Cree and Crystal Power Sign Global LED Chip Patent Cross-License Agreement
On August 4, CREE released a press release stating that the company and Jingyuan Optoelectronics Co., Ltd. (“Crystalâ€) signed a global patent agreement for cross-licensing LED chips, aiming to further promote the LED lighting and LED bulb market. growth of. Under the terms of the agreement, both parties will obtain the patent license for the nitride LED chip of the other party and grant the other party a patent for the non-nitride LED chip. During the term of the agreement, Cree will receive an authorization fee and a license fee from Crystal.
"Career groundbreaking technology and its extensive patent portfolio of its LED devices and LED lighting products provide significant performance Cree LED chips are very pleased to sign the licensing agreement with Epistar," Cree chairman and CEO Chuck Swoboda said, "this agreement underscores the commitment of both companies to respect and value the importance of international intellectual property law at the same time accelerate the adoption of LED lighting."
"The signing of the licensing agreement will help us to speed up research and innovation. In addition, it also clearly demonstrates the strength of our patented LED chip and we hope to further promote LED lighting market growth expectations", says Epistar chairman Li Bingjie " Through the cross-licensing agreement with Kerry, Jingdian is able to provide LED chips all over the world and ultimately benefit our customers."
Other terms of the license agreement have not been disclosed. The technology transfer between the two parties was not included in the agreement.
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