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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