“Apple Inc. shares rose in premarket trading Thursday after the MacIntosh [sic] computer and iPod maker resolved a dispute with Cisco Systems Inc. over the use of the name ‘iPhone,'” The Associated Press reports.
“The companies said they settled Cisco’s trademark-infringement lawsuit, and agreed to share the name and work together on future products. Cupterino [sic], Calif.-based Apple announced its multimedia iPhone on Jan. 10, and Cisco filed suit the next day claiming it owned the moniker,” AP reports.
AP reports, “Apple shares gained $1.30, to $90.53, in premarket electronic trading. The stock closed at $89.53 Wednesday on the Nasdaq Stock Market. Shares of Cisco, of San Jose, Calif., added 18 cents to $27.55, after closing at $27.38 on the Nasdaq.”
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Cisco and Apple reach agreement on ‘iPhone’ trademark – February 21, 2007