Tencent, Google sign long-term patent cross-licensing agreement

Google, China's biggest tech firm sign patent-sharing deal

The latest has the company partnering with WeChat developer Tencent in a patent cross-licensing deal, as well as promising to collaborate on future technology developments.

The agreement is a typical industry arrangement between corporations created to minimize patent infringements, with the US company signing similar deals with Samsung Electronics Co. and others.

Google did not disclose the scope of the new patent deal and Tencent did not immediately respond to questions about which products the patent agreement will cover.

Although Google's search engine remains blocked in China, the search giant has been steadily working on other business opportunities in the country, including a Beijing AI lab and a Shenzhen office. The investment in rival Chinese counterparts is a big step towards Google circumventing the regulations that make the Chinese tech market so hard to penetrate.

A sign of Tencent is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. Google previously said that such agreements mitigate the potential of litigation over patent infringement.

The deal also follows a year of massive growth for Tencent, which posted a profit of $2.7bn in November and became the first Chinese tech company valued at over $500bn shortly after.

This deal could be the start of a powerful and mutually beneficial alliance for both companies, as well as accelerated innovation in areas like AI, social media, gaming and many more.

Tencent buildings in Shenzhen, China.

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