Universal Display (UDC) has signed an OLED Technology License Agreement with OLEDWorks, a US-based light engine and panel manufacturing company, granting non-exclusive rights to manufacture and sell phosphorescent OLED lighting products. In return, OLEDWorks will pay UDC a licence fee and running royalties on its sales of these licensed products. The agreement runs for the life of UDC’s intellectual property rights.
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