AP Settles Copyright Dispute With Obama 'HOPE' artist

The Associated Press has settled its lawsuit against street artist Shepard Fairey, who created the famous Barack Obama "HOPE" image.

The media organization had sued Fairey, claiming the artist had violated its copyright of a photograph.

Now, in a statement put out by the AP, the two parties have resolved their differences, agreeing that "that neither side surrenders its view of the law."

In addition, in an interesting twist, the two parties have agreed to work with each other. According to the statement:

"Mr. Fairey has agreed that he will not use another AP photo in his work without obtaining a license from the AP. The two sides have also agreed to work together going forward with the Hope image and share the rights to make the posters and merchandise bearing the Hope image and to collaborate on a series of images that Fairey will create based on AP photographs. "

Financial terms remain confidential.

A federal judge dismissed the AP's complaint yesterday at the "suggestion of settlement" between the parties, but left a March trial date in place for related claims over several companies that sold merchandise using the artist's image.