Power Integrations Inc was incorporated in California on March 25, 1988 and reincorporated in Delaware in December 1997. The Company designs, develops, manufactures and markets proprietary, high-voltage, analog integrated circuits for use mainly in AC-DC and DC-DC power conversion in the consumer, communications, computer and industrial electronics markets. It currently offers IC products that could be used in AC-DC power supplies with output wattages ranging from less than one watt up to approximately 500 watts; it also offers products designed for certain high-voltage DC-DC applications such as power-over-Ethernet. The Companys ICs could be used in virtually any power-supply application within its addressable power range; the vast majority is used in power supplies intended for the communications, consumer, computer and industrial end markets. The Company's products include: TOPSwitch, TinySwitch, LinkSwitch, Hiper and DPA-Switch. To manufacture its wafers, the Company contracts with three foundries: OKI Electric Industry, or OKI; Seiko Epson Corporation, or Epson and XFAB Dresden GmbH & Co KG, or XFAB. These contractors manufacture its wafers at foundries located in Japan and Germany. The Companys products are assembled and packaged by independent subcontractors in China, Malaysia, Thailand and the Philippines. It sells its products to original equipment manufacturers, or OEMs, and merchant power supply manufacturers through a direct sales staff and through a worldwide network of independent sales representatives and distributors. Competing alternatives to its high-voltage ICs include monolithic and hybrid products from companies such as Fairchild Semiconductor, STMicroelectronics, Infineon, ON Semiconductor and Sanken Electric Company, as well as PWM controller chips paired with discrete high-voltage bipolar transistors and MOSFETs, which are produced by a number of vendors. The Company's trademarks are TOPSwitch, TinySwitch, LinkSwitch, DPA-Switch, EcoSmart, Hiper, Qspeed, Scale-I, Scale-II, CONCEPT, Concept A Power Integrations Company and PI Expert. As of December 31, 2011, it held 534 U.S. patents and had received foreign patent protection on these patents resulting in 390 foreign patents. The U.S. patents have expiration dates ranging from 2013 to 2030. The Company also holds trademarks in the U.S. and various other geographies including Taiwan, Korea, Hong Kong, China, Europe and Japan.