Mogul drops name after settlement.

Sean Combs is Diddy no more -- at least in Britain. The artist and entertainment mogul has agreed to drop the Diddy name as part of an out-of court legal settlement with London-based music producer Richard "Diddy" Dearlove.

Solicitors Jens Hills & Co. said Combs had agreed to "rebrand his commercial activities" in Britain and would "no longer be able to trade in the U.K. as 'Diddy.'" Combs' lawyer, Nigel Calvert, could not immediately be reached for comment.

Combs, formerly known as Puffy and Puff Daddy, has used the moniker P. Diddy since 2001, but last year decided to be known solely as Diddy.

Dearlove launched a lawsuit for unfair competition, claiming the name change had caused confusion. The case had been due to go to the High Court next month. "I started getting e-mails from Puerto Rican girls asking if they could be in my video and people were asking me to look at their clothing line," Dearlove told the Guardian newspaper.

Combs agreed to pay Dearlove's costs, as well as "significant" damages, Dearlove's lawyer said.

Dearlove, 40, best known for his 1990s dance remix of Blondie's "Atomic," told the Guardian he was "happy and relieved. It doesn't matter how big people become," he said. "This is my name. I've been successful too. I'm not a global megastar, but what I do is valid."

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