Google, Verizon announce long-term patent licensing deal

In a noteworthy announcement made by Internet search giant Google and bigwig US wireless carrier Verizon Wireless on Tuesday, the two companies said that they have entered into a global patent-licensing agreement for sharing ideas and promoting innovation.

According to the announcement, the long-term, cross-license deal signed by Google and Verizon covers "a broad range of products and technologies."

However, the two companies have also not disclosed which patents are covered under the deal. Moreover, the financial terms of the patent licensing agreement has not been officially disclosed; and, as such, it is not clear how much Verizon will pay to Google for the use of its patents.

In a statement related to the patent licensing agreement with Verizon, Google's chief of patent transactions, Kirk Dailey, said that the deal will allow as well as encourage both the companies "to focus on delivering great products and services to consumers around the world."

The key objective behind the patent-licensing deal between Google and Verizon is to expand the Android mobile operating system ecosystem to newer horizons, as well as to prevent any needless patent litigation in the future.

Towards that end, Verizon said in a statement released on Tuesday: "We're pleased that today's licensing deal with Google will help reduce the supply of patents that so-called patent trolls can assert against us."