While Facebook is all set for its first public offering of stock, the social networking site is in a clash with Yahoo over patents.
As per the reports on February 28th Yahoo Inc confirmed that it is has gave a warning to sue Facebook if it doesn’t solve the disagreement over patents. And finally on March 12 Yahoo files a complaint against Facebook, claiming that it has infringed 10 of its patents covering advertising, privacy controls as well as social networking. The lawsuit has been filed in U.S. District Court in San Jose, Calif and it is seeking unspecified damages. After these bitter confrontations Facebook also files its own lawsuit against Yahoo, claiming that this struggling Internet pioneer has violated 10 patents including photo tagging, advertising, along with online recommendations and more. The case has been filed in U.S. District Court in San Francisco.
Now we are being informed that Microsoft and Facebook jointly announced on Monday that Microsoft is selling around 650 AOL patents and patent applications to Facebook for $550 million. Both of them have also agreed to a cross-licensing arrangement for the AOL patents they at present have.