Facebook and Yahoo settle patent, forge ad alliance
July 7 , 2012
Yahoo and Facebook have settled their patent row and formed an advertising alliance.
Yahoo sued the social networking site in March claiming ten of its intellectual properties had been infringed.
In response, Facebook bought 750 patents from IBM and counter-sued. It went on to buy hundreds more patents from Microsoft in a bit to strengthen its defence.
The firms agreed they would now cross-license innovations from each other and collaborate on future projects.