The Liberals have settled a dispute over the name of their "Green Shift" carbon tax plan with a Toronto firm carrying the same name. 

Without providing details, a statement released by the Liberals on Monday evening said the party had come to an agreement with Green Shift Inc., an environmental consulting and supply company, to use the name under licence from the firm.

Green Shift Inc. filed an $8.5-million lawsuit against the federal Liberals in July, just weeks after the party launched its carbon tax plan.

The lawsuit sought a court injunction to stop the Liberals from using or displaying the words "Green Shift," or any other trademark or internet domain name that is similar to the logo used by Green Shift, which has had its trademark registered since 2003.

Liberal Leader St├ęphane Dion has said there is no legal issue with using the name, saying the party is not a commercial company and that the Green Shift describes an environmental policy.

Despite granting rights to the use of its name, Green Shift Inc. is not affiliated with or providing an endorsement of the Liberal Party of Canada, according to Monday's statement.

The firm's president, Jennifer Wright, said at the time the lawsuit was announced that the company has worked with government departments of all stripes across the country, including as a consultant for the Ontario NDP during its election campaign last year.

Wright, who has owned Green Shift Inc. since 1999 and registered the company name in 2001, said then that her firm has never been affiliated with any political party.

With files from the Canadian Press