Research In Motion Ltd. and NTP Inc. have settled their long running patent dispute. RIM has agreed to pay $450 million to Arlington, Va.-based patent holding company as well as future perpetual payments.

"NTP will grant RIM and its customers an unfettered right to continue its BlackBerry-related wireless business without further interference from NTP or its patents," RIM, of Waterloo, Ontario, said in a statement.

RIM and NTP have been in a legal battle since 2001, when NTP charged in a lawsuit that it owns the patents on wireless technology used in RIM's popular BlackBerry devices and server software. The case is now settled.