Reuters: Technology News: Qualcomm plans new subsidiary to better guard patents

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Qualcomm plans new subsidiary to better guard patents Jun 28th 2012, 13:57 Thu Jun 28, 2012 9:57am EDT (Reuters) - Cellphone chip supplier Qualcomm Inc plans to fold its research and development activities and its product and services businesses into a wholly owned unit to better protect its patent portfolio. Under the new corporate structure, Qualcomm Inc will include the company's technology licensing division, corporate functions and most of its patent portfolio, the company said. Qualcomm Technologies Inc (QTI), the new subsidiary, will increasingly work with open source software and help protect the parent company's patents from being licensed out due to their activities. The company said it expects to complete the restructuring during the first fiscal quarter of 2013. The company's shares closed at $54.91 on the Nasdaq on Wednesday. (This story has been corrected in the first paragraph to change "spin off" to "fold")

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