January 20, 2014 – TCP International Holdings Ltd., the parent company of Ohio-based Technical Consumer Products Inc. (TCP), says it has entered into a patent license agreement with Philips, and the two parties have agreed to settle and dismiss the patent infringement lawsuit that was pending in the U.S. District Court for the Northern District of Ohio.

“We continue to believe having such an open and accessible license program is greatly assisting in accelerating the adoption of LED lighting technologies and products,” said Arian Duijvestijn, general manager Lighting at Philips Intellectual Property & Standards. “And as a recognized producer of energy-efficient lighting products, we are particularly excited to have TCP join the Philips licensing program.”

The agreement provides TCP access to patents for certain LED luminaire and bulb technologies. The royalty-bearing license allows TCP and its affiliates full worldwide access to Philips’ LED-related patented technologies that Philips makes available to the lighting industry through its LED Luminaire and Retrofit Bulb licensing program.