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Google invested $1 billion for a 5% stake in America Online as part of a partnership that expands the firms existing search engine deal to

Google invested $1 billion for a 5% stake in America Online as part of a

partnership that expands the firms existing search engine deal to include

collaboration on advertising, instant messaging, and video. Under the deal, Google

would have the customary rights afforded a minority investor. What rights or terms

do you believe Google would have negotiated in this transaction? What rights do

you believe AOL might want?

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