Wednesday, August 23, 2006

WSJ.com - Apple Agrees to Pay $100 Million To Creative to Settle iPod Dispute

I'm just guessing some phones are ringing in Redmond about this, e.g., in the Zune product group, as Apple won't be the last defendant in this context.  The precedent-setting settlement with Apple is probably worth a lot more to Creative than the $100M payment.

In exchange for the payment, Apple will receive a license to use Creative's patent in all Apple products. In addition, the companies said Creative would begin selling accessories for iPod players later this year.

"Creative is very fortunate to have been granted this early patent," said Apple CEO Steve Jobs in a press release. "This settlement resolves all of our differences with Creative, including the five lawsuits currently pending between the companies, and removes the uncertainty and distraction of prolonged litigation."

Source: WSJ.com - Apple Agrees to Pay $100 Million To Creative to Settle iPod Dispute

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