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March 13, 2012 06:26 pm GMT
When Yahoo chief executive Scott Thompson got on his first investor conference call after taking over in January, he bragged to media and investors about the great wealth of talent and IP that existed at the struggling company. He said that it needed to build great innovative products and put them inside customer experiences. The news that it is suing Facebook over alleged infringement of ten "method" patents by the social network, however, points to a different strategy to move ahead.The action has ignited some strong opinions from the gallery: Fred Wilson at Union Square Ventures pulls no punches and calls the suit a "crock of shit" because it "crossed the unspoken line which is that web companies don't sue each other over their bogus patent portfolios. I don't think there's a unique idea out there in the web space and hasn't been for well over a decade."But this is not the first time that Yahoo has leaned on a big company with its patents just before the target has gone public -- Facebook is planning an IPO that could value the company at $100 billion -- nor is it the first time that Facebook has found itself in court.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Ku8rq0kyuSs/
Yahoos Patent Suit Against Facebook Is A Crock Of Shit (Plus, It Pulled This Move On Pre-IPO Google)
When Yahoo chief executive Scott Thompson got on his first investor conference call after taking over in January, he bragged to media and investors about the great wealth of talent and IP that existed at the struggling company. He said that it needed to build great innovative products and put them inside customer experiences. The news that it is suing Facebook over alleged infringement of ten "method" patents by the social network, however, points to a different strategy to move ahead.The action has ignited some strong opinions from the gallery: Fred Wilson at Union Square Ventures pulls no punches and calls the suit a "crock of shit" because it "crossed the unspoken line which is that web companies don't sue each other over their bogus patent portfolios. I don't think there's a unique idea out there in the web space and hasn't been for well over a decade."But this is not the first time that Yahoo has leaned on a big company with its patents just before the target has gone public -- Facebook is planning an IPO that could value the company at $100 billion -- nor is it the first time that Facebook has found itself in court.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Ku8rq0kyuSs/
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