Facebook and Yahoo settle lawsuits over patent infringement

Patent infringement lawsuits abound in the legal industry and businesses must ensure that they avoid accidentally stealing other companies' ideas, products or services. In the case that a business owner does get accused of infringing on a patent, conferring with Phoenix business attorneys could provide the necessary legal help, a solution that major technology companies Yahoo and Facebook have had to pursue as they're in the middle of intense IP lawsuits.

According to The New York Times, last Friday, the two firms agreed to settle their patent infringement lawsuit. The companies have decided to expand their partnership by integrating Facebook's tools into Yahoo's content pages.

More importantly, the firms have chosen to cross-license all of their patent holdings to avoid any future disputes over intellectual property.

Besides these guidelines, their agreement did not include any monetary settlement, which is favorable for Facebook, the initial defendant in the case. Also, the two firms will work together to promote major events in order to raise advertising revenue.

"We are looking forward to building on the success we have already seen to provide innovative new products and experiences for both consumers and sponsors," Ross Levinsohn, Yahoo's interim chief executive, said in a statement. "Combining the premium content and reach of Yahoo as the world's leading digital media company with Facebook provides branded advertisers with unmatched opportunity."

A former CEO of Yahoo initially began the patent infringement lawsuit, which centered over patents on technology. The settlement will incorporate the distribution and promotion of social media content and collaboration over user products.

As with Facebook and Yahoo, the intellectual property, including patents, trade name and trademark, are major factors of a company’s sales and value in the marketplace. Arizona business owners wanting to protect their intellectual property, whether by registration, contract or litigation, may want to seek the help of a Phoenix business lawyer.

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