Nintendo and Phillips sign a Global Patent License Agreement
Earlier this year Dutch electronics company Phillips, filed a lawsuit against Nintendo for what they felt was a patent infringement related to their patent on “Virtual Body Control Device” as well as “User Interface System Based on Pointing Device.
Initially Phillips was asking for not only monetary compensation but also a ban on selling the Wii and Wii U.
Then in June in the UK High courts, Phillips won an early victory with Nintendo set to appeal.
Now today we learn that the two companies have now reached an agreement with Nintendo releasing this statement:
Nintendo today announced that it has entered into a global patent license agreement with Royal Philips (NYSE:PHG, AEX: PHIA). As part of the agreement, Nintendo and Philips will cross license portions of each company’s patent portfolio. This agreement ends patent invalidity proceedings brought against Philips by Nintendo in multiple countries, as well as patent infringement proceedings brought by Philips against Nintendo.
“We are pleased to have reached agreement with Philips, as it demonstrates that both companies recognize the importance of intellectual property rights,” said Martina Franke, European General Counsel of Nintendo of Europe. “Nintendo has a substantial IP portfolio and a long history of developing innovative products while respecting valid intellectual property rights of others.”
Financial details and other terms of the license agreement will not be disclosed.
