|
And there en lies the reason for litigation by the Paice Company of Florida vs. the Bully on the Block (Toyota).
From what I had read there are numerous patent infringement allegations filed on behalf of Paice vs. Toyota and the new litigation aims to increase the royalty fee from Toyota to Paice because of this (or stop Toyota hybrid imports until the new litigation is settled). Essentially, Toyota paid $4.3 million + $25 per hybrid vehicle to Paice for their technology but now that Toyota has taken that technology and further applied it to their vehicles Paice is seeking additional compensation.
IMO, both sides have valid arguments...
Paice agreed to a settlement as Toyota admitted patent infringement and Paice was paid an amount they agreed to with Toyota for those violations. However, Paice did not anticipate further patent infringement by Toyota at the level it is proposed to have happened. Therefore, Paice wants more money.
Toyota feels they settled on an amount with Paice that cleared them of any violations and then developed their own technology (albeit thanks to Paice) to further their product development.
Sticky situation...
|