Apple Pays $5M in Patent Settlement

    NEW YORK, NY - MAY 23:  Customers browse inside an Apple Store May 23, 2011 in New York City. The first Apple Store opened 10 years ago, and looking ahead, Apple has added several new experiences for customers in their retail locations.  (Photo by Daniel Barry/Getty Images)

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    Apple Inc. has reached a $5 million settlement in a patent infringement suit with Taiwanese touch-design company Elan Microelectronics Corp, which announced the news on Thursday. The company originally sued Apple in 2009 for two touch-related patent infringements, but the U.S. International Trade Commission ruled last June that Apple had not violated U.S. trade law. The relatively small $5 million settlement leaves Apple with one less patent dispute. Samsung, HTC, Motorola, and Kodak are among the bigger names going after the California tech giant, though The Wall Street Journal reported that Kodak is preparing to file for bankruptcy. Apple is also embroiled in a number of suits with Google Inc. over its Android, as the two companies duke it out for market share.

    Read it at Reuters