Google and Verizon enter into patent agreement to avoid future litigation and thwart patent trolls

Google and Verizon announced on Tuesday that they have entered into a long-term patent cross-licensing agreement to “reduce the risk” of future litigation (via VentureBeat). Both companies expressed interest in reaching similar agreements with other large tech companies in an effort to thwart patent trolls that assert their patents in the courtroom in an effort to pad their pockets.

While no specific details about the deal were outlined, both companies have large patent portfolios that cover a wide number of industries. This agreement is more than likely a future-proofing move to avoid legal battles that could arise from Google’s emergence as an Internet Service Provider (ISP) through its Fiber service. Verizon could also be looking to hold its ground against Google in the area of targeted advertising.

“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.”