According to Paice LLC founder Dr. Alex Severinsky, the company has reached intellectual property settlements with both Toyota and Ford concerning Paice's U.S. Patent No. 5,343,970. Paice has been involved in ongoing litigation with Toyota and federal courts have ruled that the Toyota Prius and other hybrids are infringing on Paice's patented technology. Based on the new agreements, both Ford and Toyota lawsuits will be promptly dismissed, bringing an end to all patent infringement litigation between the companies. The terms of the two separate agreements are confidential.
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