The picture was issued in Slater's book called Wildlife Personalities. The animal rights group also argued that Naruto, the monkey in question, owns the photo's copyright because he pressed the shutter button. But Peta urged that the animal should benefit.
After the photographs became popular - and Slater earned a few thousand pounds from selling them - they became the subject of a complicated legal battle after Slater asked Wikipedia to stop using them without permission. "Naruto is no different since he is a macaque".
Wikipedia argued the photo is uncopyrightable because an animal took it, and animals can't own copyrights, according to CNN legal analyst Danny Cevallos.
Slater spent a long time with crested macaques in Sulawesi, Indonesia, teaching them to be interested enough in his equipment to take pictures of themselves.
Under the terms of the settlement, Slater agreed to donate 25 percent of any future revenue to charities protecting black crested macaques.
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PETA noted that this decision is a huge breakthrough to protect the legal rights of animals internationally.
Slater said: "There's no consideration of the effort, the skill, the technological knowledge behind it, the vision.(Wikimedia) are ruining my income stream in doing this".
Both sides also asked the 9th U.S. Circuit Court of Appeals "to dismiss the case and throw out a lower-court decision that said animals can not own copyrights", The Associated Press reports.
Attorneys for PETA and Mr Slater announced on Monday (Sept. 11) that they had reached a settlement before the case reached the federal appeals court.
A settlement has been reached in a landmark intellectual property lawsuit involving a monkey selfie.
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