LG Electronics introduced on Nov. 20 that it has signed a patent licensing settlement with international Large Tech firm Amazon relating to Wi-Fi commonplace important patent utilization rights.
Via this settlement, Amazon has obtained a license to make use of LG Electronics’ Wi-Fi commonplace patent expertise in gadgets that make the most of Wi-Fi expertise, together with synthetic intelligence (AI) speaker Alexa, streaming machine Amazon Fireplace TV Stick, and Fireplace Pill, amongst others. LG Electronics is at the moment conducting licensing negotiations with a number of international firms relating to Wi-Fi commonplace important patents along with Amazon.
Normal important patents are core patents that every one merchandise utilizing the expertise should use to adjust to worldwide requirements. LG Electronics possesses world-class patent portfolios in main commonplace expertise fields together with communications, Wi-Fi, broadcasting, and codecs. Based on the corporate’s semi-annual report this 12 months, LG Electronics held 97,880 home and worldwide registered patents as of the primary half of this 12 months. Roughly half of those correspond to straightforward patents.
LG Electronics plans to constantly create patent competitiveness in future expertise fields comparable to AI and quantum computing. The corporate was acknowledged for its automotive augmented actuality (AR) patent expertise final 12 months and gained the grand prize King Sejong Award for automotive AR navigation pioneering patents on the ‘2024 Patent Know-how Awards’ organized by the Korean Mental Property Workplace.
Cho Hwi-jae, govt vp and head of the IP Middle at LG Electronics, mentioned, “This settlement is an achievement that proves our Wi-Fi commonplace patent expertise capabilities within the international market,” including, “We are going to lead technological innovation based mostly on world-class patent competitiveness.”
In the meantime, LG Electronics has been accelerating the monetization of mental property rights based mostly on patent competitiveness since including licensing enterprise for patents and different mental property rights to its enterprise functions within the firm’s articles of incorporation in 2022.
