• The Wall Street Journal, Tuesday, October 11, 2011 12 AM

Still no word on a sustainable business model, but Twitter is reportedly one step closer to gaining control over the word “tweet.” James Eliason, CEO of Twittad, tells The Wall Street Journal that Twitter has agreed to drop a lawsuit it filed against his company last month -- which sought to kill Twittad’s registered trademark of the word “tweet” -- and, in return, Twittad would transfer its registered trademark of “tweet” to Twitter.

Eliason wouldn’t say whether Twitter paid Twittad, citing a confidentiality agreement between the companies. “We’ve arrived at a resolution with Twittad that recognizes consistent use of Tweet while supporting the continued success of Twitter ecosystem partners like Twittad,” Twitter spokeswoman Lynn Fox said in a statement to WSJ. Twittad helps a network of roughly 27,000 Twitter users to get paid to tweet ads on Twitter. According to Eliason, Twitter has agreed to restore Twittad’s account on Twitter so that it can get back to business. Twittad, Eliason tells The Journal, plans to keep its original tagline: “Let your ad meet tweets.”

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