InterDigital and Samsung agree to renew license agreement – final terms determined in binding arbitration
WILMINGTON, Del. -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company today announced that it has agreed to renew its patent license agreement with Samsung Electronics. The parties will enter into binding arbitration to determine the final terms, including the amount payable by Samsung under the new agreement.
Samsung’s previous license to InterDigital’s portfolio of cellular wireless and video technologies expired on December 31st 2022. The new license will be effective from January 1st 2023.
“While we always prefer to conclude our license agreements through amicable good faith negotiation, independent binding arbitration provides an effective mechanism for resolving licensing disputes,” commented Liren Chen, CEO and President, InterDigital. “I welcome Samsung’s willingness to enter into a new license with us and their commitment to work through the remaining issues in arbitration.”
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