Green Patent Blog recently highlighted Paice’s success in licensing its patented hybrid vehicle technology, noting that Paice has been an extremely successful non-practicing entity. It says the company’s success “is not a surprise when one understands the power of its patents” and emphasizes that Paice should not be considered a patent troll.
“The company should not be put in that category for a couple of reasons. First, the founder of the company and inventor of the technology, Alex Severinsky, is a true innovator and pioneer, having invented much of Paice’s technology at least as early if not earlier than the large automakers.
“Most of the patent assertion entities we think of as trolls are not innovators, but instead buy patents to assert in litigation and offer to license.
“Second, Paice made genuine efforts at ex ante licensing. That is, the company approached Toyota with offers to license its technology before any hybrid vehicles were ever sold.
“This is in contrast to the business model of acquiring and asserting patents, with licensing offers, after the allegedly infringing products have been manufactured and racked up lots of sales.”
Paice announced a licensing agreement with Hyundai and Kia in December 2015. The company already has a licensing agreement with Toyota.