Facebook, Yahoo Settle Legal Disputes, Forge Partnerships

July 6th, 2012 at 8:29 pm
 


Facebook and Yahoo enter the final stage of its legal settlement over each other’s patent lawsuits with a broad advertising partnership.

Citing sources who are aware about the pact, All Things D reported that both companies agreed on forging a strategic deal involving joint online advertising and cross-licensing of key patents. No Benjamins will be exchanged in the process of this deal, which will be announced by this weekend, according to the report.

Yahoo sued Facebook back in march, claiming that the leading social networking company stepped on 10 of Yahoo’s patents including ones that involve online advertising technology. In response, Facebook filed a countersuit a month later, adding that the Internet pioneer was short-sighted for its decision to prioritize “litigation over innovation.”

Yahoo’s lawsuit was filed while the company was under the leadership of then-CEO Scott Thompson, who was ousted from the board shortly after accusations about his allegedly “resume padding” surfaced.

Source: Reuters

 

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