The big picture: The dispute resolution and agreement to work together over the next decade benefits all parties involved... well, with the exception of patent lawyers that are now without work.

American semiconductor foundry GlobalFoundries and Taiwan Semiconductor Manufacturing Company (TSMC) have agreed to dismiss all patent disputes between them as well as those involving their respective customers.

Best yet, the two companies reached a broad patent cross-license accord in which they can use each other's existing semiconductor patents as well as those that will be filed over the next 10 years.

As others have previously discovered, eliminating an adversarial relationship and partnering in the patent space can lead to all sorts of breakthroughs. Odds are, a company will make more money through innovation than it would in the court room trying to argue a patent dispute.

GlobalFoundries and TSMC have been at each other's throats as of late. In August, the former sued the later over claims that 16 of its patents were infringed upon. TSMC returned fire earlier this month, accusing GlobalFoundries of infringing on 25 of its patents related to node processes. Fortunately, we won't have to sit through years of legal battles to sort the matters out in court.

With any luck, others will follow suit and put their squabbles behind them in the name of progress and innovation.

Masthead credit: Futuristic CPU by Yurchanka Siarhei