John McAfee settles lawsuit with Intel over use of his name

Intel and John McAfee have settled a lawsuit and counter lawsuit over the rights to use McAfee's name.

The creator of the popular antivirus software confirmed that both sides have reached an agreement, according to a Reuters report. US District Judge Paul Oetken in New York dismissed McAfee's September 2016 lawsuit and a countersuit by Intel, just five days after an agreement between the two parties was signed.

McAfee sued Intel after it warned him that using his own name for his digital gaming and cybersecurity company would infringe its trademarks. McAfee wanted to rename MGT Capital Investments as John McAfee Global Technologies. Intel then accused McAfee of trademark infringement and unfair competition, seeking unspecified damages.

The settlement now means that McAfee cannot use his name, trademark his name or the phrase John McAfee Privacy Phone or use John McAfee Global Technologies in relation to security-related products and services.

But McAfee can use his name in advertising, promotions and presentations. This includes his role in founding McAfee Associates, a company he sold to Intel for $7.7 billion in 2010. Intel spun off its IT security division, now called McAfee LLC, selling a 51% share to private investment company TPG Capital. The spin-off is valued at $4.2 billion and Intel retained a minority stake.

Neither party admitted wrongdoing in the settlement agreement, which court papers said was "amicable".

A spokesman for Intel said the firm was pleased to settle the matter.