Samsung will openly share its technical patents with smaller businesses

In accordance with some fresh pieces of information, the South Korean conglomerate is going to give free access to its patents to small companies. In this perspective, the Industry Ministry of the country stated that such steps will help to fulfill the target of combined growth. Reportedly, Samsung Electronics will provide access to around 123 patent techs to smaller firms.

The patents selected for this program span various sectors like mobile devices, semiconductors, and displays. In this way, smaller businesses from multiple sectors would be able to utilize and expand upon Samsung’s unique technologies. According to data shared by the South Korean Ministry of Trade, Industry, and Energy, around 86 smaller businesses will have access to Samsung’s 123 free patents.

Such a move by Samsung is consistent with the government’s efforts. Back in 2013, the South Korean government introduced the tech-sharing program. Almost 33 different companies have participated in this program. It includes the private as well as government companies. They have shared 2,979 patents with 1,416 smaller companies. back in 2015, Samsung became a part of this program. Since then, the company has shared 1,082 patents with 588 companies.

The Korea Institute for Advancement of Technology and the Industry Ministry joined forces with Samsung on Tuesday and signed an MoU (Memorandum of Understanding). It encourages the sharing of technology to create a win-win industry ecosystem. Hwang Soo-Seong, a senior ministry official, stated that “this program has served as and will serve as a good chance for smaller companies to upgrade their tech competitiveness.”