Apple Inc and Apple Corps Form New Trademark Agreement

Apple Inc and Apple Corps said in a joint statement today that they have entered into a new trademark agreement that effectively replaces their prior 1991 agreement over the use of the corporate name "Apple".

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, Steve Jobs, Apples CEO 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.

Apple Inc has been victorious under a recent lawsuit from Apple Corps (the Beatles' record label) regarding the use of the Apple logo on the iTunes Store. Recent rumors fueled by Steve Jobs playing Beatles music on his iPhone at MacWorld SF have pegged the Beatles coming to the iTunes store perhaps this month (Valentines Day?).