Patrick Lavelle on corporate decision-making
From Pat Lavelle on Patent Trolls · · Innovation Movement
“Any CEO of any company knows that he could spend two and a half million dollars and not get anything; might as well spend 500,000.”
On , Patrick Lavelle, Chief Executive Officer & Director at VOXX INTERNATIONAL CORP, spoke about corporate decision-making during Pat Lavelle on Patent Trolls on Innovation Movement.
About Patrick Lavelle
Patrick Lavelle, CEO and Director of VOXX International, has spoken about the company's expansion into new product categories and technologies. At the 2014 CES press conference, Lavelle introduced the company's new direction under VOXX Electronics, highlighting partnerships with iLock and ic360 to bring biometric iris authentication and 360-degree video technology to consumers. He described the Myris iris scanner as a solution to identity theft, noting that the false acceptance rate for iris scanning is one in 2.25 trillionikuha. Lavelle also mentioned the company's entry into the electric vehicle category with an EV charging system. Lavelle has also addressed the impact of patent litigation on his company. In a 2015 interview, he stated that patent trolls "put a freeze on innovation" and described their tactics as "almost like extortion." He said that VOXX had spent over $26 million on expenses related to patent trolls, money he argued could have been used for research and development. In a 2023 Marist College alumni address, Lavelle reflected on his career and philanthropy, including the dedication of Lavelle Hall, named for his parents. He credited his Marist education and the school's emphasis on ethics for his success, stating, "say what you're going to do and then do what you say."