The world leading IT company Cisco announced a 10- year patent cross-license agreement with Samsung Electronics on February 5, 2014.

Under the agreement, both companies will be able to access to each other’s patent portfolios, which covers a broad range of products and technologies.

The pact includes the two companies’ existing patents and future ones filed over the next 10 years.

This type of patent agreement reduces the risk of potential litigation and instead puts the focus on innovation for future products and services, said in a statement released by Cisco.

“Innovation is stifled all too often in today's overly-litigious environment,” said Dan Lang, Cisco's Vice President of Intellectual Property.  “By cross-licensing our patent portfolios, Cisco and Samsung are taking important steps to reverse the trend and advance innovation and freedom of operation.”

“We look forward to working with Cisco.” said Dr. Seungho Ahn, head of Samsung Electronics Intellectual Property Center. “We expect this agreement to result in mutual growth and, ultimately, for the benefit of both companies' customers across the world.”