Yahoo may sue Facebook
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Wednesday 29 February 2012
Yahoo is threatening to sue Facebook for allegedly infringing more than a dozen patents covering how to personalise websites, serve adverts and run a social network.
As part of a strategic review, Yahoo has decided it has failed to squeeze the maximum amount of value from its intellectual property and told Facebook on Monday that it believes Facebook should be paying licensing fees. Otherwise, "we will be compelled to move forward unilaterally to protect our rights", a Yahoo spokesman said.
Yahoo had grown to be one of the dominant internet companies before Mark Zuckerberg created Facebook in 2005, but it has been eclipsed by its rival and other companies. Facebook said it has yet to fully evaluate the claims.
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