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Source: Yahoo, Facebook Have Settled Patent Fight

6:23 PM, Jul 6, 2012   |    comments
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NEW YORK (AP) - A person familiar with a patent dispute between Facebook and Yahoo says the two companies have reached a deal that settles lawsuits against each other.

The person spoke on condition of anonymity because the person wasn't authorized to speak publicly.

According to the person, no money changed hands in the deal.

The technology site AllThingsD reported the deal earlier Friday. AllThingsD also says that the deal includes a joint advertising sales effort and cross-licensing of patents between the companies.

Yahoo sued Facebook in March, saying the online social networking company infringed on its patents covering advertising, privacy controls and social networks.

Facebook filed its own lawsuit against Yahoo in April. In May, Facebook completed its initial public offering of stock. Yahoo also got a new CEO.

AP Technology Writer

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