A lengthy legal battle between Intel and Psion Teklogix over the use of the name “netbook” has been settled, with the latter withdrawing its trademark claim over the term it secured back in the late 1990s.
With the term 'netbook' becoming so popular among the masses, it appeared unlikely that Psion would be able to retain its trademark registration over the term, and the company has eventually agreed to allow manufacturers to use the name 'netbook' in future.
The companies didn't reveal the financial details of the out of court settlement and referred to it as “an amicable agreement”, under which Psion will voluntarily draw back all of its trademark registrations for the name “netbook”.
In addition to this, Psion said that it has agreed to “waive all its rights against third-parties in respect of past, current or future use of the ‘Netbook’ term”.
In spite of the fact that Psion demanded around $1.2 billion in damages, Intel asserts that it hasn't accepted any sort of financial liability in the case, claiming that the trademark had already run out in 2003.
Psion was among the fore-runners in micro-sized laptops, and created its first small-sized laptop, Psion 7, using EPOC operating system, which is an early version of mobile OS Symbian, back in 1999.
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Psion doesn't have the necessary funds to pursue the Netbook fight longer. There has been an amicable agreement which means that some kind of financial middle ground has been found by the two parties. It is interesting to find out that Intel has been taking things into its own hands, which shows that the semiconductor giant is the most likely to be hurt by any unfavourable decision.