Level 3, IBM Ink Patent Cross-License Agreement

Web-based communications provider Level 3 Communications Inc. announced Thursday that it has signed a long-term patent cross-license agreement with computer manufacturer IBM. According to Level 3, it has gained access to more than 42,000 pending and issued IBM patents covering telecommunications services and technologies. In turn, Level 3 said, it has granted IBM licenses to more than 850 pending and issued Level 3 patents covering information handling systems. The financial impact of the deal was not disclosed. Level 3 noted that the licenses will last as long as the lives of the respective patents. Level 3 Communications is headquartered in Broomfield, Colo.