Twitter Pays $36 Million to Buy Patents from IBM
Published on: 10th Mar 2014
Note -- this news article is more than a year old.
Twitter has confirmed that it paid USD36 million to buy a batch of patents from IBM last year.
The transaction was related to a potential patent dispute where it appears that Twitter may have been infringing on three of IBM's patents. Buying the patents off IBM seemingly being their preferred way of settling this particular dispute.
Twitter bought the 900 patents, causing its total holdings to surge to 956 patents, and a further 100 having been filed for acceptance with the US Patents office.
"We presently are involved in a number of intellectual property lawsuits, and as we face increasing competition and gain an increasingly high profile, we expect the number of patent and other intellectual property claims against us to grow," Twitter said in a stock market filing.
The three IBM patents that were claimed to be infringed, were: US Patent No. 6,957,224, "efficient retrieval of uniform resource locators," No. 7,072,849, "Method for presenting advertising in an interactive service," and No. 7,099,862, "programmatic discovery of common contacts".