Alternative technologies

Many other lossy and lossless audio codecs exist. Among these, mp3PRO, AAC, and MP2 are all members of the same technological family as MP3 and depend on roughly similar psychoacoustic models. The Fraunhofer Gesellschaft owns many of the basic patents underlying these codecs as well, with others held by Dolby Labs, Sony, Thomson Consumer Electronics, and AT&T.
Reference : http://en.wikipedia.org/wiki/Mp3