Lighting Science Group Corporation (“LSG”) and Royal Philips Electronics today announced that a comprehensive agreement reviving their former commercial alliance has been made to settle all of their commercial and intellectual property disputes. The agreement provides that trade in LED lighting products between the companies will be intensified, that LSG takes out a royalty bearing license to the Philips LED based Luminaires and Retrofit Bulbs licensing program, and that Philips will make a limited equity investment in LSG.
The commercial relationship involves the mutual sourcing and supplying of LED components and products. The details concerning the commercial arrangement and the patent license agreement are confidential. The agreement provides for mutual releases for all claims relative to the past, including all intellectual property and commercial claims and all the pending cases between the companies will be dismissed.