Facebook Inc (NASDAQ FB) is not behind Google when it comes to innovation. The social networking site acquired atleast 100 patents from other companies on Virtual reality, video, peer to peer printing and speech translation. Facebook Inc (FB) sensing the ruthless competition ahead wants to acquire as much of innovative patents as possible.
According to a report from Envision IP, a New York-based research firm specializing in intellectual property, the social networking site has purchased various patents since January 2013. Maulin Shah, founder and managing director of Envision IP said that these purchases might give an idea on the future product pipeline of Facebook Inc (NASDAQ FB) including possibilities such as “digital printing services to interactive wearable devices.”
Fujifilm sold the highest number of patents to Facebook Inc (NASDAQ FB) totalling to 54. Patents of Fujifilm are usually in the area of image playback, image editing and presentation along with a point of sale terminal for printing images.
Facebook Inc: Patents
Patents from AT&T count to 22, which relates to personalized content delivery to analyse the relationship within the network. Apart from these two companies, Facebook also acquired 10 patent from Vega Vista related to head and motion tracking technologies and virtual displays. Inventor Neeraj Jhanji sold total of six patents related to mobile check-in to Facebook.
According to Envision IP, Facebook Inc’s own engineering team is also actively getting patented their own innovation. The data suggests that the company submitted total of 69 patents in 2009, and in 2012, the number of submissions rose to 649. From the legal point of view, the company is playing safe by acquiring 100% rights in areas of interest. Facebook Inc (NASDAQ FB) might have some over the top ideas in speech translation and facial recognition arena, or at least the patent acquisition indicates so, says a report from Forbes.
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Facebook Inc (NASDAQ FB) Business News
Facebook Inc (NASDAQ FB) is not only receiving competitive headwinds from the social networking sites, but also from some of the biggest tech giants such as Apple Inc (NASDAQ AAPL). According to the market watchers, the new feature in the upcoming iPhone 6 might pose some threat for Facebook. The mobile payment patent filed by Apple could be a reason to worry for Facebook as CEO Zuckerberg mentioned during the latest earning call that the mobile payment will become more significant part of the platform in the coming days.
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