As Sacramento residents know, Facebook is a great (or would you saw awful?) time-waster, but not everything is fun and games with the Palo Alto-based company. One of its co-creators is suing CEO Mark Zuckerberg, alleging that he is owed half of Zuckerberg's holdings. It is an item of business litigation that has quite a bit of intrigue.

For his part, Paul Ceglia claims he and Zuckerberg have a contract that should entitle him to half of the billionaire's assets. Zuckerberg, in response, has called the claim "delusional."

Currently at issue is the status of e-mails Ceglia says he has that show the 2003 contract is legitimate. Ceglia claims Zuckerberg has destroyed them, which Zuckerberg denies. Zuckerberg has also said there is no contract and any e-mails that purportedly prove there was are fakes. A judge recently ordered Celia to return to the U.S. from Ireland, where he has been for several months, and find these e-mails (if they do indeed exist).

This is not the only intrigue that has surrounded the world's largest and most successful social networking site. It has been sued several times by people who were involved with it in its early stages. Usually, Facebook and Zuckerberg have come out on top in these disputes. That might be in part to deft maneuvering on the part of Facebook's legal team. Often when businesses are sued, the fact that a good lawyer has already done his or her groundwork will make it much easier to respond to the suit swiftly and efficiently.

Source: Bloomberg Business Week, "Facebook Claimant Paul Ceglia Ordered Back to U.S. By Judge," Nov. 4, 2011