Steve Jobs and Beatles make trademark peace

Apple Inc has reached an agreement with Apple Corps, the record label started by The Beatles in 1968, concerning the use of the name "Apple" and related logos.

Under the terms of the agreement Apple Inc (formerly Apple Computer) will own all trademarks and logos related to the name "Apple" and will license them accordingly to the Apple Corps music company.

This marks an end to the long-running copyright feud between the two similarly named companies. Additionally, it replaces a pre-existing agreement, signed in 1991, which forbade Apple Inc from distributing music through physical media such as CDs and cassette tapes - an agreement that, needless to say, predated the advent of the digital music market. Apple Inc has stated both companies will bear their existing legal costs.

In a statement, Apple Inc CEO Steve Jobs said "we love The Beatles, and it has been painful being at odds with them over these trademarks". Jobs added "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".

There is no word yet on whether this deal will eventually lead to the sale of The Beatles' music catalogue in Apple Inc's iTunes Store, as the songs of the Fab Four are still not available for legal digital download.

Apple Inc could not be immediately reached for comment.

Caroline McCarthy writes for CNET News.com