Press Release

LG Electronics Enters License Agreement with Intellectual Ventures

November 8, 2011 BELLEVUE, Wash.

Intellectual Ventures (IV®) and LG Electronics (LG) announced today that they have entered into a license agreement. The deal provides LG with a license to IV’s extensive patent portfolio, which contains more than 35,000 IP assets in more than 50 technology areas.

Intellectual Ventures (IV®) and LG Electronics (LG) announced today that they have entered into a license agreement. The deal provides LG with a license to IV's extensive patent portfolio, which contains more than 35,000 IP assets in more than 50 technology areas.

Becoming an IV licensee provides access to additional products and services to address both short-term and long-term IP-related concerns. As an IV customer, LG has access to IV's portfolio to defend itself from potential litigation. IV's patents can serve in counter-assertion, enabling more efficient negotiations to reduce liabilities and achieve favorable licensing terms.

“LG's patent portfolio is strong and is a critical element to our business strategy,” said Jeong Hwan Lee, executive vice president and head of LG's Intellectual Property Center. “Our alliance with IV gives us access to patents outside our core and allows us the freedom to focus on what's important in our industry – constant innovation.”

“Intellectual Ventures offers an efficient way to access the invention rights companies need to stay competitive within the market,” said Mario Obeidat, head of telecommunications licensing at Intellectual Ventures.

Intellectual Ventures engages with companies of all sizes to meet their current business needs and provide strategic guidance on forward-thinking intellectual property. IV combines scale and expertise to structure sophisticated deals designed to help companies strengthen their market position by reducing their current risk and providing access to the invention rights they need to stay competitive. Collaborating with Intellectual Ventures helps LG protect its core business so it can focus on innovation.

Tags

Sorry, no tags exist

More Buzz From IV

The Women of Behind the Breakthrough: Retrospective

As Women’s History Month draws to a close, we’re featuring key insights from some of the amazing women of our Behind the Breakthrough series. Read on for their inspirations, lessons for leaders, wisdom for young people and more.

Read More
Our favorite quotes from Nathan Myhrvold’s Science|Business speech

We’re featuring our favorite quotes from IV founder and CEO Nathan Myhrvold’s recent talk at the Science|Business Horizon2020 conference in Brussels.

Read More
Study Shows Patents Critical to Start-ups’ Success

Russ Merbeth, chief policy counsel for Intellectual Ventures, provides his thoughts on a recent study that offers quantitative evidence of the undeniable benefits of patents for start-ups.

Read More