By BizLED Bureau
Feb 25, 2016: A patent license agreement has been signed between Panasonic Corporation, Panasonic Lighting Europe and Tridonic. The first two are electronics giants from Japan and Germany, while the latter is a leading manufacturer of lighting components and part of the Zumtobel Group of Austria. After the agreement, the parties authorize a license to use selected patents in the lighting electronics field, mainly in control and operation of LED light sources. The terms of the settlement are strictly confidential.
The initiative will assist the parties to push their R&D activities to new heights. It shall be used for creating new innovation and further growth of the LED lighting market. It gives an edge in terms of freedom and opportunity to develop better products after sharing their technology. This will work towards the advantage of consumers and shall take the lighting world ahead.
A senior executive at Tridonic expressed his excitement with his agreement and stated that they are delighted with this important license agreement with Panasonic. This patent license agreement is perhaps the most wide-ranging in the history of Tridonic and strengthens the IP-position of the Tridonic as well as of the whole Zumtobel Group. It enables them to bring new products and technologies in lesser time to the market and further to provide a higher IP protection.
Another top executive from Panasonic Lighting Europe quoted that intellectual property rights are gaining increasing importance in the lighting industry. We are very happy to enter this patent agreement with our parent company, Panasonic, with Tridonic which provides extended freedom-to-operate for the future extension of our product portfolio. It will only take the prospects of lighting industry to new heights.