Apple To Pay Elan $5M In Touch-Screen IP Deal

Law360, New York (January 5, 2012, 5:39 PM EST) -- Touch-sensor maker Elan Microelectronics Corp. reportedly reached a settlement Thursday with Apple Inc., which agreed to hand over $5 million as part of the deal to nix the dispute over patents covering touch-screen technology.

Additionally, the two companies have reached a cross-licensing agreement for Elan's U.S. Patents Numbers 5,825,352 and 7,274,353, and Apple's U.S. Patents Numbers 5,764,218 and 7,495,659, according to Central News Agency, Taiwan’s state news service.

Representatives for Elan declined to elaborate on the settlement agreement, CNA said.

The settlement comes after a decision by the...
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