Apple Inc (formerly Apple Computer, Inc.) and The Beatles’ company Apple Corps announced that they have signed a new agreement concerning the use of the name “Apple” and apple logos which replaces their 1991 Agreement.
Under this new agreement, Apple Inc will own all of the trademarks related to “Apple” and will license certain of those trademarks back to Apple Corps. In addition, the trademark lawsuit between the companies will end, with each party bearing its own legal costs, and Apple Inc will continue using its name and logos on iTunes. The terms of settlement were not announced.
“We love the Beatles, and it has been painful being at odds with them over these trademarks,” said Apple’s Steve Jobs. “It feels great to resolve this in a positive manner, and in a way that should remove the potential of further disagreements in the future.”