“Elan Microelectronics Corp., a Taiwanese touch design company, said on Thursday that Apple Inc will pay $5 million as part of a settlement in a patent infringement case,” Reuters reports. “The statement said the two companies would also exchange authorisations to use each other’s patents.”

“In 2009, Elan sued Apple in the United States over two patent infringements and the California-based giant counter-sued later the same year,” Reuters reports. “The U.S. International Trade Commission (ITC) ruled in favour of Apple in June last year, saying Apple had not violated U.S. trade law.”

Read more in the full article here.

[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]