"From my understanding, the IP is the gallium nitride growth on their specific wafers, not the growth technique itself."
It will have be something to do with the methods used. Otherwise all you have is an idea, which is what they came to BLG with in the first place (so no need to pay for it).
"will that require another purchase of the IP or does the agreement allow for modifications..."
That will entirely depend on the nature of the ongoing work that BLG is doing for them, and the success of it. All we should bank on is the revenue from foundry services.
All IMO.
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