Facebook Inc. and Yahoo Inc. settle their lawsuits making a tie up

Facebook and Yahoo settle their lawsuits.

Facebook and Yahoo settle their lawsuits.

Yahoo Inc. and Facebook Inc. have finally agreed to settle their heated up patent lawsuits and tie up for a licensing and internet advertising partnership according to reports laid out on Friday. The pact has at last settled the accusations that were made for the technology patent infringement that started under the leadership of Scott Thompson, the ex-CEO of Yahoo. He was actually removed from his job after the eruption of scandals over some inaccuracies that were found in his resume. According to reports in Reuters from sources the fore runner of this job will now be the interim CEO named Ross Levinsohn.

The Deal:

The strategic deal between Yahoo and Facebook that expands an already existing multiyear tie up allows the users of Facebook to share contents from Yahoo. This encompasses the cross-licensing of collaboration and patents on the advertising offerings that are available during the major events of media like the annual Super Bowl or the Olympics. The deal also means that users present on both the sites can provide updates to services that are mirrored on the other. According to the newest member of the board and the Chief Operating Officer of Facebook, Sheryl Sandberg, it is very pleasing to have finally been able to resolve the matter in a positive way. She also added that she will eagerly be looking forward to working with Mr. Ross and the leadership of Yahoo.

About Yahoo:

The iconic internet company of one time, Yahoo, has actually struggled to make a mark    in the digital world that is heavily dominated by companies like Google, Apple, Twitter and Facebook. The leadership of the company has been in a constant state of turmoil since it turned down the offer of Microsoft to take over their company for 44 billion dollars. That was in the year 2008 and since then there has been a change of four CEOs in a span of four years in Yahoo. The company has not yet mentioned anything as to when a final decision would be made on electing a permanent CEO for leading it. The lawsuit of Yahoo sprung out criticism that the company was intending on squeezing out cash from a company that was about to go public in the largest coming-out party of the Silicon Valley.

The duel between Yahoo and Facebook:

Yahoo had filed a suit against Facebook in the month of March. In the lawsuit Yahoo claimed that the top ranked social networking company has violated as many as 10 patents that included many that covered online technology of advertising. In their lawsuit Yahoo had claimed that before Facebook adopted the ideas of Yahoo, it was regarded as one of the worst performing sites in matters of advertising.

In the month of May, after Facebook went public, it filed a countersuit of its own against Yahoo a month later calling Yahoo short sighted for the decision it had made to give more priority to litigation than innovation. Facebook has been growing on its armory of patents strongly. It made an announcement that in the month of April it would pay 550 million dollars to Microsoft Corp for numerous patents that have originated with AOL.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

PepsiCo relinquishes control of Tropicana for $3.3 billion

PepsiCo relinquishes control of Tropicana for $3.3 billion

PepsiCo will sell Tropicana and other juice brands to a private equity firm in exchange for pre-tax proceeds of 3.3 billion dollars.
9 hours ago
Sanofi bets big on mRNA future with Translate Bio acquisition offer

Sanofi bets big on mRNA future with Translate Bio acquisition offer

Sanofi’s CEO Paul Hudson is dead serious about mRNA technology and capabilities with a $3.2 billion acquisition offer to Translate Bio.
11 hours ago
Top 6 Energy Dividend Stocks to include in your portfolio

Top 6 Energy Dividend Stocks to include in your portfolio

The entire energy sector yield hovers around 4%, according to the Energy Select Sector SPDR exchange-traded fund.
1 day ago
Monte dei Paschi performance below par in EU banks stress test

Monte dei Paschi performance below par in EU banks stress test

The depletion of capital at each bank under the test’s harshest scenario will be closely scrutinised, and could potentially lead to hostile takeovers
3 days ago
Nokia to launch T20 tablet with 10.36 inch display

Nokia to launch T20 tablet with 10.36 inch display

The Nokia T20 will sport a 10.36-inch display and will have 4 GB RAM along with 64 gigs of native storage.
4 days ago
Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

“The business is ‘spring loaded’ for a rebound when semiconductor supplies stabilize and more closely match demand.”
5 days ago