Meet The Most Powerful Man In The Automotive World

The auto industry has seen its share of folk heroes over the years, but none like Alex Severinsky. You’ve likely never heard of him, but his company, Paice, made big news this summer when it beat both Toyota and Ford in prolonged litigation over patents held by the Soviet immigrant’s company.

These patents are critical to the operation of some hybrid vehicles, so when the International Trade Commission announced it would hold hearings on the matter, both automakers settled -- or caved, depending on one's perspective. The settlements, say sources who have followed the proceedings, may eventually total more than $100 million for the firm. Paice is the beneficiary of smart patent filings 16 years ago, as well as some lucky timing, as recall-ridden Toyota was not in a position to have its hybrid technology questioned in such a public way.


 

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Steve - 11/2/2010 11:10:23 AM

+3 Boost

So how does this make this guy "The Most Powerful Man In The Automotive World"?

Agent009 - 11/2/2010 2:26:37 PM

+1 Boost

He holds the patents to the technology they are all wanting to use.

Basically if you want to make a hybrid you have to go though him.

1uberaudiR8 - 11/2/2010 1:10:24 PM

+1 Boost

Maybe even the WORLD!!!!

thstone - 11/2/2010 2:21:30 PM

+1 Boost

In the computer world he'd be called a Patent Troll worthy of hate and ridicule.

Agent009 - 11/2/2010 2:27:36 PM

+1 Boost

He might be called a number of things, but no one disputes he knows how to get something patented correctly.

holmstar - 11/2/2010 2:52:02 PM

+2 Boost

Well, if you patent something and have no intention of producing it, and then wait for a company to start using your patented device (generally a long time after said device is profitable) and then sue them, that is a patent troll. In other words, the only intent of filing the patent was to provide a means to extort money from one or more companies, adding nothing to society.

internationalmanofmystery - 11/2/2010 3:52:03 PM

+1 Boost

IP, guys...IP! If it's his, then pay up!

internationalmanofmystery - 11/2/2010 3:53:21 PM

+1 Boost

oh, Intellectual Property....sorry