Apple Inc. and Samsung Electronics Co., Ltd will come together to settle their patent disputes. The two technology giants will meet for mediation on or before February 19, 2014. The CEO of Apple Inc. Tim Cook and CEO of Samsung Electronics Co., Ltd Oh Hyun Kwon are reported to attend the said mediation together with their lawyers. Before the scheduled meeting on or before February 19, the legal teams of both parties met on January 6, 2014 to discuss the settlement opportunities.

In 2011, Apple Inc. began litigating Samsung Electronics Co., Ltd. Apple’s litigations are called “Smartphone patent wars” which is a solution to address competition in the global market especially in the field of mobile communications. There are many on-going cases between Apple Inc. and Samsung Electronics Co., Ltd all over the globe. Both companies incurred losses and wins. For example, in a litigation case in the US, Apple won the ruling. In a litigation case in Japan, South Korea and UK, Samsung won.

Patent wars are not new in the industry. When you speak of patent war, it means battle between individuals and corporations to secure their patents for trial. You should know that there are enduring    patent wars amongst software corporations and technology giants. Companies battle for global supremacy to entice more consumers. That is understandable.

As a consumer, it is important that you know patents. Here’s some information that you need to know about patents:

• Effects of patents: Patents are created to safeguard intellectual property. It is also intended to inspire innovations. If you registered your idea or invention, it gives you an advantage over your rivals. These days, patent disputes are used to threaten or intimidate each other. Patent wars force companies to allot money and time for the litigation processes. The money and time could have been used in Research and Development (R&D).

• Reasons for patenting: It is important for an individual or corporation to patent their inventions or ideas. Patenting will give you exclusive rights. This means that for 20 years (from the date of the filing), you can exploit the idea or invention. Patenting will also make your market position stronger. This will prevent rival companies to use your idea or invention for a period of time. If you choose not to use your idea or invention, you can sell the rights to other companies.

The information provided above can give you an idea of patents, intellectual property and the global dispute between the two technology giants. If you want to learn more, you can ask your friends or co-workers about it.