Nokia recently signed an agreement with HTC that will end all ongoing intellectual property disputes with the other company. The businesses also agreed to collaborate on future inventions. The companies revealed little about the deal, but Nokia confirmed HTC will pay it royalties.

Nokia has a history of monetizing its intellectual property portfolio, which is very large. The company is set to sell its handset business to Microsoft, after which intellectual property licensing will drive much of its revenue. Forbes estimates the licensing business of the company accounts for 13 percent of its value, which could increase significantly depending on the timing of future deals and negotiations on royalty rates.

Nokia also recently extended a patent licensing contract it has with Samsung for another five years. While the royalty rate and other terms aren't yet determined, the companies will settle them through arbitration in 2015. This deal with HTC positions Nokia well to leverage a higher royalty rate in the deal, according to Forbes.

Nokia's announcement of this deal raise its shares by 9.27 percent, according to The Street, though the dollar value of the deal was not disclosed. The markets raised Nokia's market capitalization by $400 million, however, which may be an indication of the deal's worth.