Mac computer and iPod maker Apple said Monday (Feb. 5) it settled long-simmering trademark issues with The Beatles' Apple Corps Ltd. company about the use of the name "Apple" and apple logos.

The new settlement replaces the companies' 1991 agreement, and gives Apple Inc. ownership of all the trademarks related to "Apple." In addition, Apple Inc. will license certain of those trademarks back to Apple Corps for their continued use.

This settlement ends the ongoing trademark lawsuit between the companies, with each paying its own legal costs, and Apple Inc. will continue using its name and logos on iTunes.

Further terms weren't disclosed.

"We love the Beatles, and it has been painful being at odds with them over these trademarks," said Steve Jobs, Apple's CEO. "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."