Yahoo! and Facebook Make A Patent Deal
Executives at Facebook and Yahoo! have struck a patent deal as part of a settlement. Former Yahoo! CEO Scott Thompson initiated the patent lawsuit against Facebook and then Facebook filed a countersuit.
The two companies will make an ongoing partnership including a joint ad sales effort and some cross-licensing for some of the patents.
There is no cash payment involved in the deal. There is a possibility that Facebook could later pay to license other Yahoo! patents. Yahoo! interim CEO Ross Levinsohn and Facebook COO Sheryl Sandberg negotiated the terms of the lawsuit.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry