Cree, Inc. said it signed a cross license agreement with Ledvance, Inc. under which Cree will receive ongoing royalty payments and a royalty-free license to Ledvance’s patent portfolio.
In exchange, Ledvance will receive a license to Cree’s portfolio of patents related to LED light bulbs and LED luminaires.
“The licensed patents address various aspects of forming an LED light including optics, heat management, LED power and control, LED light efficiency and light color and uniformity,” said Cree in a statement.
“Certain Cree patents that cover Cree’s networked lighting technology (SmartCast) and color mixing technology (TrueWhite) were excluded from the license.”
Cree general counsel Brad Kohn said: “With intellectual property developed over the past 29 years, Cree has a deep portfolio of technologies that are elemental to the design and manufacture of high-performing LED bulbs and LED luminaires.
“This recent licensing agreement with Ledvance is yet another example that demonstrates the value of Cree’s R&D investments, as well as the breadth and strength of Cree’s lighting technologies.”