Tiger Woods' lawsuit against the Franklin Mint over an unauthorized souvenir commemorating the 1997 Masters was settled with Woods receiving "a substantial monetary settlement" and a permanent injunction barring the company from using his name and likeness.

"Tiger Woods is reluctant to use litigation to stop his name and likeness from being pirated, but, in this case, that became his only option," Hughes Norton, Woods' agent for International Management Group, said yesterday.

Franklin Mint issued for sale at $37.50 a "Tiger Woods Eyewitness Commemorative Medal" last year marking his record-breaking victory in the Masters. Woods filed suit in U.S. District Court in the Central District of California.

Franklin Mint attorney Arthur Seidel argued that the company is a communications "medium" and the medal is the same as a newspaper, thus it is protected by the First Amendment.

U.S. District Judge Kim Wardlaw disagreed and issued a preliminary injunction last July against Stewart and Lynda Resnick of Beverly Hills, their company, Roll International, and its division, the Franklin Mint.