Apple Inc. has entered into an agreement with The Beatles' Apple Corps over the use of their trademark of the name "Apple." In the latest chapter in the ongoing legal saga, Apple Inc. (formerly Apple Computer) will own all of the trademarks related to "Apple" and will license certain of those trademarks back to Apple Corps for their continued use. Additionally, the ongoing trademark lawsuit between the companies ends. The terms of settlement are confidential.
In a statement, 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."
On behalf of Apple Corps shareholders, Neil Aspinall, manager of Apple Corps said, "It is great to put this dispute behind us and move on. The years ahead are going to be very exciting times for us. We wish Apple Inc. every success and look forward to many years of peaceful co-operation with them."
It is expected that this legal settlement is the latest step towards bringing the Beatles' music to iTunes. Last month, there were reports that Apple would be making a "special announcement" during the Super Bowl, which never came to pass last night. However, Beatle fan sites also were reporting that a Beatles/iTunes announcement could be tied into Valentine's Day, to promote the LOVE record from last year.