Universal Display licenses OLED IP to PIOL
OLED IP provider Universal Display has signed an agreement with Panasonic Electric Works and Idemitsu Co, Ltd. Under the terms of the agreement, Panasonic Idemitsu OLED Lighting (PIOL) acquires a license to integrate Universal Display’s proprietary UniversalPHOLED phosphorescent and other OLED technologies and materials into OLED lighting products.
The move contributes to further strengthening PIOLs position as one of the leading vendors in the emergent OLED lighting market, said Universal Display CEO Steven Abramson.
Under the license agreement, Universal Display has granted license rights under various patents and associated know-how owned or controlled by Universal Display for PIOL to produce and market OLED products for lighting applications. PIOL will pay Universal Display running royalties on its sales of these products under the agreement, with a portion of the royalties prepaid.
The parties have also entered into a separate material supply agreement. Both agreements run through July 31, 2014.
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