Executives at the firm said they had resolved a long-running legal dispute over ownership of the term by US advertising company Twittad.
Twittad allows a network of 27,000 Twitter users to be paid to tweet advertisements from their private accounts.
The firm was the first to lay claim to the word “tweet” in 2008 when it trademarked the phase “Let Your Ad Meet Tweets”. It later argued that because Twitter’s own users had come up with the term themselves it was entitled to seek ownership.
This week, James Eliason, the chief executive of Twittad, revealed Twitter had agreed to drop a lawsuit against his company which sought to stop Twittad obtaining trademark of the word.
In return, Twittad, based in Des Moines, Iowa, would transfer its registered trademark of “tweet” to Twitter, he said. He declined to disclose whether Twitter had reached a paid settlement with Twittad, citing a confidentiality agreement between the companies.