LG Electronics acquires intellectual property from Intellectual Ventures

LG Electronics will gain access to the patents of Intellectual Ventures, a company that owns a large patent base but does not manufacture anything.

As a result of the agreement, LG Electronics will be able to use Intellectual Ventures' patents in its developments. This means that LG will not only gain the right to use the patents but also the freedom to improve its products.

Experts believe that other major companies will enter into similar agreements in the near future, especially companies that produce smartphones running on the Android mobile operating system.

Intellectual Ventures owns a portfolio of 35,000 patents.