Apple Inc and Apple Corp settle

 

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Posted on 5 Feb 2007 at 14:52

The war of the Apples is over as Steve Jobs' Apple Inc and The Beatles' Apple Corp reach a new agreement. Apple Inc will now own all of the trademarks related to 'Apple' but will license some of them back to Apple Corps.

'We love the Beatles,' said Steve Jobs, Apple Inc's CEO, '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.'

The MD of Apple Corps, Neil Aspinall, commented: '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.'

All the terms of the settlement are confidential, but Apple Inc - it dropped the 'Computer' from its title in January - is a clear beneficiary from the deal.

It will fuel speculation about a possible tie up between the two Apples over iTunes and The Beatles. It has been rumoured, for example, that The Beatles will make their iTunes debut on Valentine's Day, 14 February.

The group has reportedly asked for $15mn for six months' exclusive rights to sell their catalogue online.

This new agreement between the companies replaces the previous one from 1991, which restricted Apple Computer's activities in music and was recently contested in the UK High Court, again to Apple Inc's satisfaction.

The ongoing trademark lawsuits between the two companies will now end, they declare, with each party bearing its own legal costs. Apple Inc will also continue using its name and logos on iTunes.

Author: Alun Williams