NEW YORK & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Verizon Communications Inc. and Google Inc. have entered into a long-term patent cross-license agreement covering a broad range of products and technologies. The agreement allows each company to reduce the risk of future patent litigation.
“Verizon has long championed patent reforms and industry actions that promote innovation,” said Verizon General Counsel Randal Milch. “We look forward to striking similar deals with other high-tech companies also concerned with the innovation tax that patent trolls often collect."
“This cross license allows both companies to focus on delivering great products and services to consumers around the world,” said Kirk Dailey, Head of Patent Transactions at Google. “We're pleased to enter into this agreement with an industry leader like Verizon, and we welcome discussions with any company interested in a similar arrangement."
Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top Internet property and its brand one of the most recognized in the world. Google’s patent portfolio of more than 50,000 patent assets is ranked as one of the top patent portfolios in the high-tech industry.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 99 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 181,900. For more information, visit www.verizon.com.