Psion has decided to give up its rights to the term netbook. In what is being called an "Amicable" settlement Psion is waiving all rights to the netbook name.

Now Intel and other companies can officially use that title to describe low-power, small, inexpensive notebooks, just like they have been since early 2008.

Very few details of the settlement have gotten out other than Psion relinquishing control of the netbook name.

Read more here.

On Monday, Psion issued a statement in which it said that it and Intel had "settled the trademark cancellation and infringement litigation brought in the Northern District of California relating to the 'Netbook' trademark registration."

"The litigation has been settled through an amicable agreement under which Psion will voluntarily withdraw all of its trademark registrations for 'Netbook,'" the statement read. "Neither party accepted any liability. In light of this amicable agreement, Psion has agreed to waive all its rights against third parties in respect of past, current or future use of the 'Netbook' term."