Tuesday, July 17, 2007, 7/17/2007 11:42:00 AM

Facebook and Trade Secrets

From SecurityFocus, a story about social networking site Facebook's founder, Mark Zuckerberg, who is facing new claims from three Harvard classmates that the idea and source code for Facebook was taken from them when Zuckerberg was working with them on a site called Harvard Connection (now ConnectU).

The stakes are high since Facebook may now be valued at up to $2 billion.

According to the article, the three founders of ConnectU have brought ten claims against Facebook, including copyright infringement, misappropriation of trade secrets, and a number of violations of common law. They are seeking an injunction prohibiting Facebook's operations, requiring that the company destroy all materials derived from the allegedly infringed-upon code, and holding the firm and its officers liable for the civil claims.

More information on the story can be found at Conde Nast's Portfolio.com here.

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