Cree Signs a Global LED Chip Patent Cross-License Agreement with Epistar
Cree, Inc. and Epistar Corporation have signed a worldwide patent cross-license agreement for LED chips to further 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.
“Cree’s pioneering technology and resulting broad patent portfolio has significantly advanced performance in LED and LED Lighting products,” says Chuck Swoboda, Cree Chairman and CEO. “This agreement underscores both companies’ commitment to accelerating the adoption of LED lighting while respecting the value and importance of international intellectual property laws.”
“The patent license agreement we have achieved will help us to accelerate the R&D activities for creating new innovation,” says BJ Lee, Chairman of Epistar. “By entering into this cross-license agreement with Cree, Epistar is able to provide LED chips that ultimately benefit our customers across the world.”
