Microsoft has gained access to spatial search technology provider GeoVector Corp.’s portfolio of patents for Augmented Reality and pointing-based local search solutions for mobile computing, according to an announcement released today.

Under a non-exclusive multi-year agreement, Microsoft now has the rights to use concepts covered in these patents in order to bring GeoVector’s patented Augmented Reality technology to Windows devices. Other terms of the agreement were not revealed.

“We are thrilled to have Microsoft join the growing number of GeoVector licensees,” said John Ellenby, GeoVector’s president and CEO. “This agreement further validates GeoVector's industry-leading patent portfolio and enables us to focus on additional licensing opportunities as we bring our location-based technology to market through our partners and licensees.”

According to TechCrunch.com, GeoVector’s Augmented Reality software identifies sites based on shape and size. Therefore, by utilizing this object-recognition system, a user can point a mobile device at a building, such as the Empire State Building, and identify and tag surrounding structures.

To take it even further, the combination of object recognition with GPS technology would allow a user to spot locations, such as restaurants, and then pull up related information, like table availability. According to slashgear.com, this AR-style system will challenge Google Goggles, in which a mobile device is tailored to identify any object in front of it.

In addition, GeoVector’s World Surfer iPhone app enables users to hold a compass-enabled phone to any landscape and recognize points of interest, restaurants and stores.

To see how GeoVector’s World Surfer app works on the iPhone, check out the video below.