Xerox confirmed yesterday that software giant Microsoft would take a minority stake in ContentGuard, the copier firm's e-commerce unit formed to protect intellectual property rights and control web piracy. Microsoft and Xerox had said late on Wednesday they would unveil a new Internet firm focused on media management.

ContentGuard, which was developed at the Xerox Palo Alto Research Centre in California, will offer software to protect and manage content, such as books and music distributed over the web, giving publishers and authors more control over their digital material, the companies said in a statement. Xerox will retain a majority stake in the company. --(Reuters)