Apple CEO Steve Jobs announced the iPhone yesterday at the company's MacWorld Expo in San Francisco even as lawyers were still working behind the scenes to nail down the legal issues associated with the iPhone name.

The iPhone has proved to be the most talked-about product at this year's MacWorld, and its positive reception sent Apple's stock surging over the past two days. The company's stock closed at $97 Wednesday, up nearly 5 percent for the day.

Apple and Cisco have been in negotiations for about two years over Apple's desire to license the iPhone trademark, said Cisco spokesman John Noh. "Because they have been negotiating with us on licensing the trademark all this time, Apple is acknowledging that we own the name," said Noh.

Jobs made no mention of any dispute over the name during his announcement yesterday. Apple officials could not immediately be reached for comment.

Computerworld's Sharon Machlis and the IDG News Service contributed to this report.