Google and Microsoft Pairing Up for Venture!

According to cnnmoney.com, Microsoft Corp. (MSFT) touted an agreement on Monday to license its mobile software to rival Google Inc. (GOOG), a move that highlights the increasing ability of large technology companies to use intellectual property for more than simply developing products for their own customers.

Google is using Microsoft's ActiveSync technology in its Google Sync service, which lets users automatically update calendar and contact information on mobile devices. Google unveiled Google Sync on Monday, calling it "a particularly handy improvement for people who regularly use Google tools."

Microsoft's vice president of intellectual property and licensing, Horacio Gutierrez, said in a statement that the Google license is "a great example of Microsoft's openness to generally license our patents under fair and reasonable terms so long as licensees respect Microsoft intellectual property."

The software giant has made more than 500 licensing agreements for its intellectual property in the last five years, according to Gutierrez.