Yahoo Facebook – A struggling Yahoo is looking into retribution from social-networking site Facebook for stealing patented innovations the web search based site has acquired itself since launching in 1994, according to the New York Times.
In the 2010 unauthorized movie about the creation of Facebook called “The Social Network,” it portrayed creator Mark Zuckerberg as a person who stole ideas from other people, which resulted in several lawsuits.
Now, the search engine company is threatening the social networking site to enter a licensing agreement with them for the innovations they are using, and if not, they are ready to file a lucrative lawsuit.
“We must insist that Facebook either enter into a licensing agreement or we will be compelled to move forward unilaterally to protect our rights,” Yahoo said.
In response, a statement was released by Facebook that read, “Yahoo contacted us at the same time they called The New York Times, and so we haven’t had the opportunity to fully evaluate their claims.”
An unidentified source told the Times, that of the more than 1,000 patents Yahoo owns, Facebook has violated 10 to 20 of them that involve online advertising, messaging, and other services.
In 2004, Yahoo made more than $100 million from Google on licensing agreements just before the search engine giant launched its own messaging service in 2004. Now, one Yahoo shareholder is hoping the faltering web site can extract billions from Facebook.
“As a shareholder, I am happy they are going after Facebook. It’s a perfectly legitimate thing for them to do,” said Eric Jackson, a managing member of the hedge fund Ironfire Capital.