Aurora, OH – TCP International Holdings LTD, the parent company of Ohio-based Technical Consumer Products, Inc. (“TCP”), announced today that it entered into a patent license agreement with Philips (NYSE: PHG, AEX: PHIA). This agreement provides TCP with access to Philips’ LED-related patents for certain LED luminaire and bulb technologies. As part of this agreement, the two companies have agreed to settle and dismiss the patent infringement lawsuit that was pending in the United States District Court for the Northern District of Ohio.
The royalty-bearing license allows TCP and its affiliates full worldwide access to Philips’ LED-related patented technologies that Philips makes available to the lighting industry through its LED Luminaire and Retrofit Bulb licensing program.
Ellis Yan, TCP’s CEO said: “We are happy that an agreement could be reached with Philips. This agreement allows TCP greatly improved access to Philips exclusive patented technologies, and will help TCP further advance its’ leadership in LED lighting design and application.”
“We continue to believe having such an open and accessible license program is greatly assisting in accelerating the adoption of LED lighting technologies and products”, said Arian Duijvestijn, General Manager Lighting at Philips Intellectual Property & Standards. “And as a recognized producer of energy efficient lighting products, we are particularly excited to have TCP join the Philips licensing program.”
This license agreement with TCP follows earlier agreements between Philips and other companies. Philips’ licensing program includes many LED luminaire and bulb-related inventions of Philips.Tagged with tED