If you play golf, chances are you've heard of the name Ping before and that's because the company has been making golf clubs since 1959, so you were probably surprised to hear that Apple had launched a new service on Wednesday called Ping.

Rather than sort out the details after the announcement as the company has done in the past with the likes of Cisco and the iPhone moniker, it turns out that Apple has already entered into an agreement with Ping under which Apple will use the Ping trademark in connection with Apple's innovative new social music discovery feature in iTunes.

"We are pleased to enter into this agreement with Apple," said John Solheim, chairman and CEO of Karsten Manufacturing Corporation and Ping.  "Like Ping, Apple carries a reputation for innovation and quality. I have always had great respect for companies that have changed and improved the ways things are done and I continue to model Ping along those lines. Apple is a truly great example of this kind of enterprise".

Founded in 1959, Ping is a famous premium brand that holds more than 1000 trademark registrations around the world, many related to golf equipment. The company also owns trademark rights in Ping for social networking and other online services.  

Panic over, and before you ask we doubt Apple has any plans to launch a golfing range.