Cross-Licensing

Cross-licensing is a mutual agreement between two or more companies to share their patents or technology rights. Instead of one company exclusive owning a patent, they allow each other to use their patented inventions—often to develop new products or improve existing ones. This arrangement reduces legal barriers, encourages innovation, and can save costs by avoiding costly litigation. Essentially, it's a collaborative licensing agreement that benefits all parties by enabling access to each other's technology, fostering cooperation, and expanding market opportunities.