HTC Signs Deal Giving It Patent Trove Owned By Former Microsoft Chief Tech Officer
HTC phone group announced today a licensing agreement and strategic alliance, namely, working with Intellectual Ventures (IV) to gain long-term access to IV's patent portfolio which includes more than 30,000 IP assets which will allow HTC to "defend itself and its subsidiaries from potential litigation." What's all that mean? It basically means that there's now 30,000 more ways HTC is protected against infringement should someone come up with an idea similar to something HTC has designed attempting to sue them. It's a big fat shield!
Intellectual Ventures is owned by Nathan Myhrvold, former Microsoft chief technology officer. The fine folks over at TechFlash note that IV entered into a very similar deal with Samsung Electronics last week on Thursday. Peter Detkin, founder and vice chairman of Intellectual Ventures said this about the situation: "HTC is one of the fastest growing companies in the mobile phone industry, and it understands the value of actively protecting its invention rights, ... Given HTC's innovativeness in developing some of the industry's first smartphones and its continued development of some of the world's most advanced products, HTC is forward-thinking with its IP practices and is working with IV to mitigate its IP risk." Vewwwy intewesting. Read the full press release below:
HTC and Intellectual Ventures Announce Licensing Agreement and Strategic Alliance
BELLEVUE, Wash. and TAOYUAN, Taiwan, Nov. 23, 2010 /PRNewswire/ — HTC Corporation and Intellectual Ventures™ (IV) today announced they have entered into a long-term licensing agreement and strategic alliance. With the agreement, HTC is receiving rights under IV's patent portfolio, and will have access to IV's vast portfolio of more than 30,000 IP assets to defend itself and its subsidiaries from potential litigation.
HTC and IV are both advocates of intellectual property protection, and the alliance provides HTC with access to IV's entire IP portfolio and contributes to HTC's ability to reduce its risk of litigation.
"HTC is one of the fastest growing companies in the mobile phone industry, and it understands the value of actively protecting its invention rights," said Peter Detkin, founder and vice chairman, Intellectual Ventures. "Given HTC's innovativeness in developing some of the industry's first smartphones and its continued development of some of the world's most advanced products, HTC is forward-thinking with its IP practices and is working with IV to mitigate its IP risk."
About HTC
HTC Corporation (HTC) is one of the fastest growing companies in the mobile phone industry. By putting people at the center of everything it does, HTC creates innovative smartphones that better serve the lives and needs of individuals. The company is listed on the Taiwan Stock Exchange under ticker 2498. For more information about HTC, please visit www.htc.com.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world. www.intellectualventures.com
Intellectual Ventures is a registered trademark of Intellectual Ventures Management, LLC (IV). Other company and product names may be trademarks of their respective owners.