Twitter didn't have the trademark on the word "tweet" and, as you can understand, that just wasn't going to fly with the giant company.
On Monday, James Eliason, CEO of Twittad, said in an interview that Twitter would drop a lawsuit it filed against his company last month that sought to nix Twittad's registered trademark of the word "tweet." In return, Des Moines-based Twittad would transfer its registered trademark of "tweet" to Twitter, he said.
So what's the deal? Why back down if it's your rightful trademark?
There's gotta be a buyout, right??
How much did you get, James??
[Image via AP Images.]