Apple has reportedly opted to settle a patent dipute with Elan to the tune of US$5 million. The settlement allows the company to avoid a trial and possible ban of Apple products. Elan's complaint was over two multi-touch patents.

Early last year, an International Trade Commission judge decided in Elan's favor when Elan brought a complaint that Apple had used its multi-touch patents in the iPhone. At the time, it was estimated that Apple could pay as much as $70 million in the case. With that bargaining chip off the table for Elan, it received significantly less this week.

Apple did counter-sue Elan, but this settlement has brought that to an end, too.