TW, IBM put heads together


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NEW YORK -- Time Warner Inc. and IBM have entered into a long-term cross-license agreement where the companies will pay one another for access to their patented inventions.

"IBM and Time Warner have rich histories of pioneering innovation in online and networked systems dating back to before the development of the World Wide Web," said Dan Cerutti, IBM GM of software intellectual property. "We are pleased to be able to share our innovations through a patent cross-license."

Financial terms of the agreement were not disclosed.

IBM holds more than 40,000 patents and has earned the most in the U.S. for 14 consecutive years, the company said. The computing giant is the world's largest holder of U.S. patents and makes about $1 billion per year in patent-licensing income, a spokesman said.

IBM has patents covering a wide range of technologies, including microelectronics, software and computing.