Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation

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Google is preparing for a potential backlash from the US Department of Justice and intellectual property lawsuits that could see a dip in its profits and range of services.The US-based company recently released its 2011 first quarter financial report to the United States Securities and Exchange Commission, revealing that it could be “subject to intellectual property or other claims, which are costly to defend, could result in significant damage awards, and could limit our ability to use certain technologies in the future.”

The filing went on to say that this “could result in a loss of revenues for us and otherwise harm our business.”

Google is currently under fire as the filing states there are “patent, copyright, and trademark infringement lawsuits filed against us claiming that certain of our products, services, and technologies … infringe the intellectual property rights of others.”

The internet giant is also stockpiling a US$500 million tab in relation to a US Department of Justice investigation over the last quarter. The investigation is related to the use of Google advertising by certain advertisers.

On the company’s filing, the $500 million sits under the banner of “Charge related to potential resolution of Department of Justice investigation,” indicating that the sum is possibly being set aside in case a monetary settlement comes out of the DoJ investigation or other legal costs.

The company does not believe that the final outcome of this investigation – not yet resolved – will adversely affect its business.

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