Research In Motion Limited (RIM) and NTP today announced they have settled the long-running patent dispute, averting a possible court-ordered shutdown of the BlackBerry system and a disruption of wireless service for millions of users.

RIM agreed to pay $612.5 million to resolve claims that its hand-held phone and e-mail device infringed on patents held by a Virginia company.

The licensing and settlement agreement relates to all patents owned and controlled by NTP and covers all of RIM's products, services and technologies. NTP grants RIM an unfettered right to continue its business, including its BlackBerry related business.

The resolution permits RIM and its partners to sell RIM products and services completely free and clear of any claim by NTP, including any claims that NTP may have against wireless carriers, channel partners, suppliers or customers in relation to RIM products or services, (including BlackBerry Connect and Built-In technology), or in relation to third party products and services, to the extent they are used in connection with RIM products and services.