Avanci Announces Patent License Agreement with General Motors
DALLAS--(BUSINESS WIRE)--Today, Avanci announced that it has signed a patent license agreement with General Motors, increasing the total number of auto brands licensed through the Avanci marketplace to 37. By signing an agreement with Avanci, connected vehicles from General Motors family of brands receive licenses to the 2G, 3G, and 4G essential patents of the 48 patent owners that participate in the marketplace today, as well as patent owners that join Avanci in the future.
“We are very pleased to welcome General Motors, the largest US based automotive manufacturer and one of the largest worldwide, as an Avanci licensee,” said Kasim Alfalahi, founder and chief executive officer of Avanci. “This agreement demonstrates our focus on streamlining the patent licensing process for the automotive market with efficient, predictable licensing solutions through our one-stop Avanci marketplace.”
Avanci’s truly independent marketplace has transformed the way companies share technology by licensing intellectual property from many different patent holders in a single transaction, at low, fixed rates, paid once for the lifetime of the vehicle. By streamlining the technology sharing process, Avanci provides automotive manufacturers with an efficient and transparent way to access the wireless technology needed for their connected vehicles. More than 55 million connected vehicles on the world’s roads are licensed through Avanci.
Avanci believes that sharing patented technology in the Internet of Things era can be simpler. As an independent intermediary working at the intersection of different industries, our one-stop solution is designed to bring efficiency, convenience, and predictability to the licensing process. Since 2016, Avanci has been driving innovation forward by making connections through our marketplace. Companies with essential patents share their innovations with companies creating connected products for the IoT in one place, with one agreement, and for one fair, flat rate. In 2020, the World Economic Forum named Avanci a Technology Pioneer for its work in accelerating innovation for the Internet of Things.