TSMC, Globalfoundries Settle Dispute With Cross-Licensing Deal (1)

Taiwan Semiconductor Manufacturing Co. and Globalfoundries Inc. settled a patent dispute that had threatened to impose import bans on components for many electronics, including Apple Inc.’s iPhone.

The companies agreed to dismiss all pending litigation between them and cases involving their customers, according to a joint statement Monday. The chipmakers will cross-license existing patents and future patents filed over the next 10 years.

“This resolution guarantees GF and TSMC freedom to operate and ensures that their respective customers will continue to have access to each foundry’s complete array of technologies and services,” the companies said in the statement. Both businesses ...