Yahoo! asks Facebook for its intellectual property

Yahoo! Inc. asked Facebook Inc. to license technologies covered by its intellectual property and threatened to take legal action if the companies don’t reach an agreement as Bloomberg stated.

Sunnyvale, California- based Yahoo said “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, the largest U.S. Internet portal, is looking for ways to revive growth after losing ground to Facebook in the display-advertising market and trailing Google Inc, in Web searches. Yahoo said it has made “substantial” investments in innovation and that other companies have already agreed to license those technologies.