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Toyota Settles Patent Dispute with Hybrid Technology Maker Paice
Posted on Jul 20, 2010
NEW YORK (AP) — Toyota Motor Corp. said Monday it has settled a years-long dispute with a U.S. company that had claimed the Japanese automaker used its technology without permission in its hybrids. The deal ends a squabble that had briefly threatened to block the Prius from being sold in the U.S.
Toyota and Paice LLC said they have settled their patent dispute and agreed to have all lawsuits between them dismissed. The terms were confidential, the companies said. No financial details were disclosed.
"After six years of litigation, we are pleased to reach a settlement with Toyota," said Frances Keenan, chairman of the Paice board, in a statement.
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