Apple and Beatles label settle feud

The two Apples seem to have settled their long-running dispute over the 'Apple' name, with the computer company winning rights to the trademark.

In a statement released on Monday, Apple Inc (the Mac manufacturer) and Apple Corps (the multimedia organisation founded by the Beatles) announced a "new agreement" in the case, whereby Apple Inc will own all of the related trademarks, licensing some of them 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," a statement made jointly by the companies said.

"We love the Beatles, and it has been painful being at odds with them over these trademarks," said Apple Inc chief executive, Steve Jobs, on Monday. "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 Corps' manager, Neil Aspinall, also expressed relief at the settlement, remarking that Apple Corps' shareholders "wish Apple Inc every success and look forward to many years of peaceful co-operation with them".

The two companies have been arguing over the name for decades, with the latest case -- centred on Apple Inc's move into the music business via iTunes -- ending in defeat for Apple Corps last year.

The precise terms of the new agreement, announced on Monday, remain confidential.