Toyota Faces Possible Import Ban Over Paice’s Patent Suit
Contrarian Profits (September 8th, 2009) Writes:
The bankruptcies of Chrysler Group LLC and General Motors Corp. (NYSE: GRM) provided Toyota Motor Corp. (NYSE ADR: TM) with an unparalleled opportunity to increase U.S. market share. But now patent-infringement claims could result in a U.S. import ban on some of the company’s most popular hybrid cars.
McLean, Virginia-based Paice LLC has filed a complaint with the U.S. International Trade Commission (ITC) that claims the Toyota Camry infringes on its patents, Bloomberg News reported. An investigation into the claim could be completed within 15 months and result in a ban of some Toyota imports.
Paice, a developer of hybrid electric power train technology, in 2005 won a similar case against Toyota involving the Japanese carmaker’s Prius, Highlander and Lexus RX400h hybrid models. Paice claimed those vehicles used its drivetrain technologies, and a jury agreed, awarding the company $4.3 million
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