SCHAUMBURG, USA & WATERLOO, ONTARIO: Motorola Inc. (NYSE: MOT) and Research In Motion Ltd have entered into a Settlement and License Agreement which ends all outstanding worldwide litigation between the two companies.
Under the Agreement, Motorola and RIM will benefit from a long-term, intellectual property cross-licensing arrangement involving the parties receiving cross-licenses of various patent rights, including patent rights relating to certain industry standards and certain technologies, such as 2G, 3G, 4G, 802.11 and wireless email. In addition, the parties will transfer certain patents to each other.
The financial terms of the agreement include an up-front payment and ongoing royalties to Motorola. Further terms and conditions of the agreement are confidential.
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