Market-leading semiconductor innovator Cree recently announced plans to grant licenses to several of its fundamental technology patents in an effort to spur LED lighting adoption and shift focus to the development of new LED solutions.

With this savvy strategy, the company has leveraged its intellectual assets to drive the industry forward and potentially inspire stronger demand for its future products and services.

"Cree is committed to the development of innovative, energy-efficient LED lighting technology and this [licensing] program provides access to important technology developed by Cree," explained company IP director George Brandes. "The remote phosphor licensing program is designed to provide rights under the relevant Cree patents that our LED customers need to develop and commercialize leading-edge LED luminaries and bulbs, accelerating the LED lighting revolution."

Following this announcement, Cree unveiled its latest innovation - the world's first high-brightness LED optimized for elevated outdoor video screens.

The latest generation of the technology is expected to provide an enhanced viewing experience for audiences in stadiums and other similarly large outdoor venues while reducing operating costs. Weather resistant and optimized for a wide range of viewing angles, the commercial release of the new LED solutions may be one of the biggest developments in the burgeoning outdoor video screen market to date, according to officials.