InterDigital Takes Flight

Nokia puts its patent house in order.
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InterDigital Communications

(IDCC) - Get Report

soared 23% Thursday after the tech licensing outfit got $253 million in a settlement with

Nokia

(NOK) - Get Report

.

The deal resolves InterDigital's claims over 2G patents related to TDMA and EDGE technology and 3G products sold prior to today's settlement. InterDigital says it hopes to continue negotiations with Nokia on 3G licenses.

Nokia has told investors that it now plans to be more aggressive with its intellectual property rights as wireless phones adopt more advanced technologies.

Last week, in a

rare show of cooperation, Nokia and

Qualcomm

(QCOM) - Get Report

said they were negotiating disputed licensing agreements. Some observers saw the development as a short-term armistice before a much larger 3G and 4G intellectual property war begins.

Resolving the InterDigital dispute seems to put more of Nokia's patent house in order as it prepares for an upcoming tech turf war over the future of wireless property claims against big players like Qualcomm.

"We recognize and respect other companies' intellectual properties, and likewise we expect others to respect our intellectual property," says a Nokia representative.

InterDigital shares rose $5.22 to $27.67, and Nokia shares were down a penny to $22.93 in midafternoon trading.