The agreement expands the relationship to promote the exchange of information and the incorporation of patented technologies in respective products.
The deal covers a broad range of consumer products manufactured and sold by both companies.
Although the content of the agreement, including the specific financial terms, remain confidential, both parties indicated that Microsoft is being paid by JVC.
The deal is the latest in a series of agreements made by Microsoft since it launched its IP licensing programme in December 2003.
The company has entered into more than 200 such agreements with the likes of Fuji Xerox, Kenwood, Kyocera Mita, LG Electronics, NEC, Nortel Networks, Novell, Olympus, Samsung and Seiko Epson.
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