Yahoo & Facebook Settle Patent Dispute

Yahoo and Facebook have inked a deal that settles their ongoing patent dispute. In March of 2012, Yahoo claimed that Facebook’s technology was using many of the patents Yahoo was granted for social networking and online advertising.

Although no money exchanged hands as a result of the agreement, the companies have consented to cross-license some of their key patents. Although the details have yet to be released, the terms seem favorable enough for both sides to not only drop their litigation, but issue statements of excitement regarding their new partnership.