Twitter Coughs Up $36M To Pay Off Copyright Infringement.
Twitter seems to have gotten itself in a bit of a pickle with some intellectual property recently. The company has purchased over 900 patents from IBM recently, according to reports. In a similar fashion towards other cases when companies grab hold of mass amounts of patents, Twitter ins’t really interested in the content of the trademarks, but just in keeping them from infringing any copyright claims.
With the a specific purchased patent, Twitter will be able to protect themselves from at least three different infringement claims placed up by IBM, that will also include future claims as well. instead of having to deal with any legal hassles of litigation and settlement, Twitter decide that it would be far easier to buy the patents set against them in order to deal with the issue. The deal between the struck between the two giants was done back in December, but no financial details have been disclosed.
A little fun fact about Twitter is that the company of it size had previously held only nine patents before its deal with IBM, which made it wide open for any copyright attacks. The company managed to increased its portfolio with a total of 956 patents and 100 patents pending in the us, according from a report Twitter has filed with US Securities and Exchange Commission pertaining to IBM transaction.
“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 explained in the filing.
These recent situation has made the company think on continuing its growth for its patent portfolio and the IBM deal could lead it in gaining protection from other infringements as well.