Remember not too ago there were reports that a company in Brazil was discovered to have the rights to the iPhone name? In fact the company that owned it went ahead and released a device called the iPhone, and we guess since legally they do own the name, they were well within their rights to do it. Naturally this isn’t sitting well with Apple, especially with the iPhone brand being such a strong one. According to a report by Brazilian newspaper, Folha de São Paulo (via Forbes), it seems that the company holding the rights to the iPhone name, IGB Gradiente, are looking to reach an agreement with Apple.

The report has suggested that both companies are close to an agreement and unsurprisingly details of the agreement were not revealed. If this were to be a cash settlement where Apple either pays for the licensing of the name, or buys it outright, it wouldn’t be a complete surprise. After all Apple managed to settle a similar dispute with Chinese company Proview back in 2012 over the iPad moniker.

Filed in Apple >Cellphones. Read more about iPhone and Legal.

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