Tatung Fine Chemicals terminates patent agreement with LiFePO4 Licensing AG
10 July 2017
Taiwan-based Tatung Fine Chemicals (TFC) has terminated its lithium iron phosphate patent agreement with LiFePO4+C Licensing AG—the organization established in 2011 by the patent holders to handle licensing of the widely used cathode material for Li-ion batteries.
The cost for Tatung Fine Chemicals Co., Ltd (“TFC”) to acquire the patent was TWD 359,625 thousand (US$11.76 million) and was to be amortized during the license period (from 1 July 2011 to 9 April 2023).
In 2016, TFC assessed that its products mostly would be sold to non-patent countries and thus the patent of the intangible asset did not have future value to TFC. TFC decided in its shareholder’s meeting to terminate the Agreement on 19 December 2016.