Cupertino, Calif. - Apple Inc. on Monday announced that it has ended a long-running trademark dispute with Apple Corps, the Beatles' record label, over the use of the name "Apple".

Under the settlement deal, Apple Inc. receives full ownership of all the trademarks related to "Apple," and will license Apple Corps to continue to use the name as well.

Financial terms of the deal were not disclosed, although both sides agreed to pay their own legal costs.

The settlement ends a dispute between the companies going back over two decades, and replaces a 1991 agreement -- before the iPod and iTunes -- wherein Apple Inc. agreed not to enter the music business.

"We love the Beatles, and it has been painful being at odds with them over these trademarks," said Apple CEO Steve Jobs. "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 companies did not say whether the agreement heralded the long-awaited arrival of Beatles songs on iTunes; the band has so far refused to license its music for sale digitally.

"It is great to put this dispute behind us and move on," said Apple Corps manager Neil Aspinall. "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."

Related Links:
http://biz.yahoo.com/prnews/070205/sfm105.html?.v=61
http://biz.yahoo.com/ap/070205/apple_beatles.html?.v=12 (AP)
http://www.applecorps.com