The agreement covers 3G, 4G and 5G terminal unit products and LG will pay InterDigital royalties.
All litigation between the two companies has been settled as part of the deal.
William Merritt, president and CEO of InterDigital, commented: “We are very happy to have resolved our licensing dispute with LG on mutually agreeable terms and look forward to a successful relationship with LG going forward.
He said: “This agreement with LG shows how our longstanding patent licensing framework and process can lead to effective, productive discussions and eventual resolution on a worldwide basis.”
Merritt added: “The agreement also underscores the broad portfolio of technologies we’ve contributed and continue to contribute to the entire industry, and represents another important step towards our efforts to bring a significant portion of major terminal unit providers under license.”