Cree LED and Blizzard Lighting Enter Settlement and Limited License Agreement
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patent infringementregulatory
Patent infringement occurs when someone makes, uses, sells or imports a product or process that is covered by another party’s patent without permission — like copying a chef’s secret recipe and selling the dish without consent. For investors it matters because alleged infringement can trigger costly lawsuits, damage awards, sales bans or forced licensing, any of which can reduce revenue, increase expenses and hurt a company’s stock value.
intellectual propertyregulatory
Intellectual property are legal rights that protect creations of the mind—such as inventions, brand names, designs, software, or secret formulas—giving the owner control over who can use, copy or sell them. For investors, IP is like owning a blueprint or recipe: it can generate steady income through exclusive sales or licensing, boost a company’s competitive edge and valuation, and also create costs or risks if rights must be defended or challenged in court.
limited licenseregulatory
A limited license is an official permit that allows a person or business to perform certain regulated activities but with clear restrictions on scope, duration, or conditions—like a learner’s permit that lets you drive under supervision and only in specific situations. For investors, it signals that operations or revenue-generating services may be constrained or subject to extra oversight, which can affect growth prospects, legal risk, and future profitability.
DURHAM, N.C.--(BUSINESS WIRE)--
Cree LED, a Penguin Solutions brand (Nasdaq: PENG), and Blizzard Lighting LLC (‘Blizzard’) today announced that they have reached a mutually beneficial settlement resolving a patent infringement dispute involving Cree LED’s patents related to LED components commonly used in LED displays. As part of the settlement, Cree LED has granted Blizzard a limited license to certain Cree LED patents covering LED components.
Cree LED is firmly committed to protecting its intellectual property as part of its broader mission to drive innovation in LED display technology. As a U.S.-based industry leader with significant investments in research, development and product quality, Cree LED actively monitors the global market to identify and address unauthorized use of its patented technologies. This vigilance spans the entire value chain, from manufacturers and suppliers to specifiers and end users, ensuring that Cree LED’s innovations remain protected and that customers can rely on the integrity and performance of the company’s industry-leading solutions.
Cree LED is a registered trademark of CreeLED, Inc. All other trademarks and registered trademarks are the properties of their respective owners.
About Cree LED
Cree LED, a Penguin Solutions brand, offers one of the industry’s broadest portfolios of application-optimized LED chips and components, leading the industry in performance and reliability. With more than 35 years of innovation, our strong IP portfolio and unique business model ensures supply chain continuity. We deliver best-in-class technology and breakthrough solutions for focused applications in high power and mid-power general lighting, horticulture, specialty lighting and video screens. For more information, visit cree-led.com.
