Under Armour and Nike Inc. have agreed to settle a trademark infringement lawsuit in which the Baltimore-based sports apparel brand accused its rival of illegally using versions of the "I Will" slogan.

"The litigation has been resolved on a confidential and mutually agreeable basis," Under Armour said in a statement Tuesday. UPDATE: Nike spokeswoman Mary Remuzzi issued the same statement and said the company had no further comment.

An order approved Monday by Judge Ellen L. Hollander in U.S. District Court in Baltimore dismisses the Feb. 21 complaint. No terms have been disclosed. A settlement conference was scheduled for Tuesday morning.

Under Armour had sought to stop Nike from using the phrase "I Will" and asked for punitive damages.

In the lawsuit, Under Armour said Nike used slogans in social media ads that begin with "I will," such as "I will finish what I started," and "I will sweat while they sleep."

Under Armour had called the federally registered trademark one of the "cornerstone symbols," of the company and vowed to protect "what we've worked so hard to build." The brand has used the slogan in TV ads and on billboards and in connection with hundreds of products.

Nike denied infringing on a trademark.

"The phrase "I Will" alone and in combination with other words is and has been in common use by others, including in connection with athletic apparel and products, and accordingly, is at best a weak and diluted phrase," Nike said in an April response.

The sports brand giant said it has been using campaigns to motivate athletes for decades and before Under Armour existed, including the 1995 "If you let me play sports…" television and print campaign that used "I will" to describe accomplishments.

Under Armour's latest effort in its "I Will" marketing debuted in November as the "Under Armour Makes You Better," campaign. The commercials are narrated by company founder Kevin Plank and show athletes battling extreme conditions and frigid temperatures with the help of Under Armour's ColdGear Infrared apparel.

lorraine.mirabella@baltsun.com