Yahoo Suing Facebook For Violating 10 Patents
Yahoo on Monday filed a lawsuit against Facebook in which the company claims the world’s largest social network violated 10 patents held by Yahoo that focus on advertising, privacy, customization, messaging and social networking.
Patent protection against Facebook isn’t something new for Yahoo, last month they battled with the social network over 10-20 patents they wanted the social network to pay licensing fees for the right to use.
In an email statement on Monday Yahoo stated:
“Yahoo has invested substantial resources in research and development through the years, which has resulted in numerous patented innovations of technology that other companies have licensed. Unfortunately, the matter with Facebook remains unresolved and we are compelled to seek redress in federal court. We are confident that we will prevail.”
In the lawsuit Yahoo says it would like Facebook to pay ”all damages caused to Yahoo by reason of Facebook’s infringement.”
Facebook didn’t learn of the lawsuit until Monday and the company says it will ”vigorously against these puzzling actions.”
“We’re disappointed Yahoo, a longtime business partner of Facebook and a company that has substantially benefited from its association with Facebook, has decided to resort to litigation.”
The lawsuit comes just as Yahoo’s new CEO Scott Thompson has taken the reigns of the company.
The lawsuit comes just after Facebook filed for a $5 billion initial public offering (IPO). The company is expected to be valued at somewhere in the vicinity of $100 billion.
Share of Yahoo rose by 0.6% in after-hours trading.
Do you think Yahoo is grasping at straws by suing Facebook?