Just before a hearing was about to take place over a patent infringement claim by Paice LLC against Toyota Motor Corp. before the US International Trade Commission, it was announced that a settlement had been reached.
This patent claim had put at risk Toyota’s imports of its latest hybrid vehicles, including the Prius. The settlement terms weren’t disclosed. Last week, Paice also entered into a settlement with Ford Motor Co. but the terms weren’t divulged either. Alex Severinsky, the founder of Paice, is a 65-year-old Soviet emigrant who jumpstarted his career by developing antitank-warfare instrumentation.
Read Article