Twitter reportedly closing books early, IP dispute with IBM disclosed

|By:, SA News Editor

Reuters reports Twitter (TWTR), which just hiked its IPO price range due to strong demand, will stop taking orders for its IPO tomorrow, a day ahead of schedule. The microblogging giant still expects to price its IPO on Wednesday, and begin trading on Thursday.

Meanwhile, Twitter has disclosed in its latest S-1 IBM thinks the company is infringing at least three of its patents, and is looking for a settlement. Twitter claims it has "meritorious defenses to IBM’s allegations."

Twitter's meager patent portfolio, which limits its ability to file counter-suits in infringement battles, has been viewed as a business risk.

Twitter has long been a staunch opponent of Web patent litigation. Last year, the company announced its Innovator's Patent Agreement, which generally lets Twitter engineers/designers maintain control of the patents they create, and promises said patents won't be used for "offensive litigation" without their creators' consent.