Apple & Apple Corps Reach Agreement
February 5, 2007 at 6:24 AM (PT)
APPLE INC. and THE BEATLES' company APPLE CORPS LTD. have entered into a new agreement concerning the use of the name "Apple" and apple logos that 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 for their continued use. In addition, the ongoing 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 are confidential.
Commenting on the settlement, APPLE CEO STEVE JOBS said, "We love the BEATLES, and it has been painful being at odds with them over these trademarks. 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."