Yahoo Officially in Talks with Facebook to Settle Patent Suit

Yahoo has confirmed that it is talking to Facebook on working out a deal to get out of the lawsuit it started itself, over patent infringement. It's lawyers asked the court for an extension on a deadline so the two companies could come to an agreement.

The troubled company, under the short leadership of now ex-CEO Scott Thompson, thought it was a good idea to sue Facebook ahead of its IPO over patents.

Facebook wasn't going to be intimidated though and, instead of paying anything to Yahoo, spent several hundreds of millions of dollars on acquiring patents of its own with which it fought back.

After Thompson was ousted and when it was already clear that Yahoo would not win easily if at all, the company started to back down on its claims, a welcomed outcome. It's still sad though that Facebook had to spend a fortune on worthless patents that will not help its product in any way.

Via: Yahoo Officially in Talks with Facebook to Settle Patent Suit