Cree and Epistar signed a cross-license agreement for light emitting diode (LED) chips to advance the growth of the LED lighting and LED bulb markets. Cree and Epistar both hold broad and substantial LED chip patent portfolios that are important for making blue LEDs, the foundation of white LEDs found in most lighting products manufactured worldwide. Under the terms of the agreement, each party receives a license to the other’s nitride LED chip patents and is granted certain rights to non-nitride LED chip patents. Over the term of the agreement, Cree will receive a licensing fee and royalty payments from Epistar. https://cdn.specpick.com/images/photonics/download_1__300.jpeg712370
According to Chuck Swoboda, Cree Chairman and CEO, Cree’s technology and patent portfolio has advanced performance in LED and LED Lighting products. He said that he was pleased to enter into a LED chip license agreement with Epistar. The agreement underscores both companies’ commitment to accelerating the adoption of LED lighting while respecting the value and importance of international intellectual property laws.
According to BJ Lee, Chairman of Epistar, the patent license agreement will help them accelerate R&D activities. He believes that it is a clear indication of the strength of their LED chip patent portfolio and their desire to further the growth of the LED lighting market. By entering into this cross-license agreement with Cree, Epistar can provide LED chips that benefit their customers across the world.