Patent Litigation
In May 1999, GoTo.com filed a patent application titled "System and method for influencing a position on a search result list generated by a computer network search engine". The patent was granted as US 6269361 in July 2001. A related patent has also been granted in Australia and other patent applications remain pending.
Prior to its acquisition by Yahoo!, Overture initiated infringement proceedings under this patent against FindWhat.com in January 2002 and Google in April 2002.
The lawsuit against Google related to its AdWords service. In February 2002, Google introduced a service called AdWords Select that allowed marketers to bid for higher placement in marked sections - a tactic that had some similarities to Overture's search-listing auctions.
Following Yahoo!'s acquisition of Overture, the lawsuit was settled with Google agreeing to issue 2.7 million shares of common stock to Yahoo! in exchange for a perpetual license.
Read more about this topic: Yahoo! Search Marketing
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