Think Computer agreed to abandon its petitions to get the US Patent and Trademark Office to cancel the trademark issued to Facebook, earlier. Thus, Facebook and Think Computer settled the dispute, over whether the former owns the term  “facebook”.

According to a joint statement, in August 2003, Think Computer released a web based student portal called housesystem through a Harvard student group. By September 2003 it also featured a section called “The Universal Face Book” or “The Face Book”.

This software contained a number of features such as a course scheduler, student marketplace, email service, message boards, digital flyer advertising, event calendar (with online RSVP’s), job placement, local business reviews and more.

At launch, housesystem did not show member profiles due to campus security concerns. Profiles were added after Zuckerberg launched Facebook in February 2004.

Mark Zuckerberg, founder and CEO of Facebook, said: Aaron and I studied together at Harvard and I’ve always admired his entrepreneurial spirit and love of building things. I appreciate his hard work and innovation that led to building housesystem, including the Universal Face Book feature. At school, I was even a member of housesystem. We are pleased that we’ve been able to amicably resolve our differences.

Aaron Greenspan, founder and CEO of Think, said: I am glad that my contributions have been recognised by Facebook. Mark has built a tremendous company at Facebook, and I wish them continued success in the future.”