Cross Licence Agreement Patent renewed between Huawei and Ericsson

Chinese giant technology company Huawei renewed its patent with the rival company Ericsson. According to Zacks, these two big companies are tied up to share wireless technology between their networking equipment. According to the terms mentioned under the cross licence agreement, both companies will be able to implement and access each other's Standard Essential Patents (SEP) for UMTS, GSM and LTE technologies in global arena.SEP holders always have to require offer to the other technological big company's reasonable, fair and non-discriminatory terms. However, both the companies were reluctant to reveal more financial details of this new deal.