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Cree, Inc. and Philips have signed a comprehensive, worldwide patent cross-license agreement designed to further accelerate the growth of the LED lighting market. Cree and Philips both hold broad and substantial optoelectronic patent portfolios which are important to their respective businesses. This agreement covers patents from both parties in the fields of blue LED chip technology, white LEDs and phosphors (including remote phosphors), control systems, LED luminaires and lamps as well as LED backlighting of liquid crystal displays (LCDs) and patents in the Philips LED Luminaire Licensing Program.