Cree, Epistar Sign LED Patent Agreement

LED manufacturers Cree Inc. and Epistar Corp. have signed a worldwide patent cross-license agreement for LED chips.

Under terms of the agreement, each party will receive a license to the other’s nitride LED chip patents and is granted certain rights to nonnitride LED chip patents. Cree will receive a licensing fee and royalty payments from Epistar.

“This agreement underscores both companies’ commitment to accelerating the adoption of LED lighting, while respecting the value and importance of international intellectual property laws,” said Chuck Swoboda, chairman and CEO of Cree.

The companies cited a desire to advance the growth of LED lighting and LED bulb markets as reasons for the agreement. The contract did not include a technology transfer.

For more information, visit: www.cree.com.