Update: Nilay here, with some trademark law nerdery for you. This trademark has a long and convoluted history, as you'd expect. CBS and Man & Machine actually both filed for the Mighty Mouse mark as it relates to computer mice in 2007 -- and CBS actually filed for it first, in May. Here's the kicker, though -- Man & Machine not only filed for this particular trademark in December of that year, but it also simultaneously sued Apple and CBS over their use of the name. Saucy! Both trademark applications were then put on hold while that case was sorted out -- and after two years of bickering, they finally settled the case and CBS abandoned its registration in June of this year, allowing Man & Machine to resume its registration. Since Apple and CBS were essentially precluded from opposing that renewed registration, it more or less sailed right through, and here we are. Simple, innit?
Oh, and for our occasionally misguided friends in the media: it's important to note that CBS and Man & Machine were the involved parties here, and they ultimately settled their dispute out of court. Apple was simply along for the ride, since its agreement was with CBS. If you're going to run with any sensational version of this, we'd suggest something along the lines of Apple screwing this up by not just buying Man & Machine for this mark years ago -- we're certain it would have been cheaper than the millions everyone's undoubtedly spent litigating this since. Got that? Good.
Read - USPTO database entry for Man & Machine's "Mighty Mouse" registration
Read - Man & Machine's Mighty Mouse product page