Research In Motion and NTP have agreed to settle the patent dispute over the BlackBerry device for $612.5 million, the companies announced in a press release on Friday. Under the agreement, RIM will receive a license to NTP's patents going forward, they said.

The agreement involves a one-time payment to NTP, RIM co-CEO Jim Balsillie said during a Friday afternoon conference call. Even if the U.S. Patent and Trademark Office eventually overturns NTP's patents, NTP will not have to repay the $612.5 million. "There is no provision for the PTO re-exam. This is a full and final settlement," he said.