Nokia announced today that it has reached agreement with Research In Motion on patent licensing that will retire all existing patent-related lawsuits between the two companies.
Nokia will be financially compensated by RIMM, Nokia said. In its statement, the company said it is to receive both a one-time payment and ongoing disbursements from RIM. The Nokia press release did not specify the timing or the amount of either, saying the terms are confidential.
However, an SEC filing by RIM said the financial structure of the agreement includes a lump sum $65 million one-time payment. The agreement will result in the dismissal of pending actions in the United States, the United Kingdom, Canada, and Germany.
The arrangement appears similar to a deal Nokia closed with Apple in 2011, in which the two companies agreed to retire a set of patent disputes. Nokia also received both a one-time payment and a series of continued payments as part of that settlement.
The article Nokia, RIMM Settle Patent-Related Lawsuits originally appeared on Fool.com.Eric Volkman owns shares of Nokia. The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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