Facebook, Yahoo! resolve patent dispute
The controversial lawsuit was initialized by Scott Thompson, the former CEO of Yahoo, who was fired two months ago after allegations of falsely claiming a computer science degree in his resume. The settlement comes as a godsend for Ross Levinsohn, the interim CEO, who now looks all in readiness to claim the topmost position.
“We are excited to develop a deeper partnership with Facebook,” he said.
Yahoo, Facebook to work in tandem
Though the settlement that resolved charges of patent infringement does not entertain any sort of direct cash payment, the technology-in-dispute can be used by both the IT giants from here on. After this court verdict, experts are viewing Yahoo on the losing end as the agreement directly implies a failure on part of Yahoo to prove the claims of patent infringement which it initiated against Facebook.
In this regard, a statement released by the companies revealed that the deal includes “a patent portfolio cross-license” and it will permit both Facebook and Yahoo to “work together to bring consumers and advertisers premium media experiences promoted and distributed across both Yahoo! and Facebook.”
About the copyright suit
Earlier in may, Yahoo filed the lawsuit due to which it had to face an ocean full of disapproval from almost all leading technology players in the fraternity. In its charges, Yahoo accused Facebook of violating the copyright of its 10 patents; to which, the Californian social networking firm counterattacked by blaming Yahoo of breaching its patent copyrights in a wide range of products and technology such as online news, cars, games and travel.
The sharpest bullet stabbed Yahoo when Facebook accused it of infringing its patented technology in Flickr, Yahoo’s most fancied photo-sharing service.
The Yahoo-Facebook row went down the wire in April when the Internet leader charged Facebook of purchasing patents just for misguiding the court.
But finally, things have eased out and both the corporate have joined hands to launch new advertising and licensing agreements. Both the companies are now in willingness to take advantage of the agreement so as to entice more customers and sponsors.