Burman was the highly successful CEO of Signet Jewelers Ltd. from 2000 till 2011, Zale Corp.
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Signet, as Ratners was rebranded in 1993, has begun legal action to protect its rights to the name.
On Monday, Signet said it had withdrawn legal action and had reached an amicable agreement with Mr Ratner.
Signet Jewelers, the best performer in the group during 2010, is down 26 percent over the past 3 years.
Burman, a 30-year veteran of the jewelry industry, joined Signet in 1995 as the chairman and CEO of Sterling Jewelers, Inc.
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Signet is the owner of the Ratners name, and feared that a similarly named website would cause confusion in the marketplace.
Six years later he left his post as vice president of leveraged finance at Signet to run his new venture full time.
In the U.S., Signet owns 1, 314 stores that include Kay Jewelers, Jared The Galleria Of Jewelry, and a number of regional names.
FORBES: Signet Q2 Same Store Sales Up 10%, Total Sales Up 11%
Signet Jewelers Ltd is a retailer of jewelry, watches and associated services.
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Mr Ratner then left the company and the group - which included H Samuel and Ernest Jones - was eventually rebranded as Signet.
The firm parted company with Mr Ratner, threw the focus on to its "trusted brands" H Samuel and Ernest Jones, and renamed itself Signet.
Signet also is the largest jewelry retailer in the United Kingdom.
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Similarly, Signet Jewelers reported today that earnings in the first quarter rose 98%, although the stock is only up about 1% on the news.
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Signet says it anticipates 48 new US-based stores for the year.
FORBES: Signet Jewelers Holiday Sales Up 7.1%, Comps Up 3.3%
In the U.K., Signet owns 536 stores, including the H.
FORBES: Signet Q2 Same Store Sales Up 10%, Total Sales Up 11%
The dividend yield of Signet Jewelers Ltd stocks is 0.77%.
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"The Ratners name is owned by the Signet Group and use of that name by a competitor is bound to cause confusion in the marketplace, " Signet said on Friday.
Signet operates approximately 1, 853 specialty retail jewelry stores, including 1, 318 stores in the U.S., under the store brands Kay Jewelers, Jared The Galleria Of Jewelry and a number of regional names.
FORBES: Signet Fiscal 2012 Total Sales and Same Store Sales Jump 9%
"It was better to reach agreement with Signet and use investors' money and management time to develop the business rather than on contesting a legal action, " Mr Ratner said on Monday.
Bill Gates Foundation initiated holdings in Signet Jewelers Ltd.
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Signet has attempted to gain an injunction to prevent the brand reappearing on Ratners Online, a jewellery e-tailer Mr Ratner hopes to launch in September with second ranking UK jewellers chain Goldsmiths.
His "Fisherman's Ring", the special signet ring which contains the Pope's name and is impressed to validate certain official documents, is expected to be destroyed along with the lead seal of the pontificate.
The exclusive character of these fenders is embodied by an integrated air vent made from clear-coated carbon fiber and a horizontal brace that spans the vent with embossed BRABUS signet and integrated LED lights.
Gerald Ratner, former head of the Ratners high street jewellery chain, has been forced to change the name of his new online venture following the threat of legal action from the UK's largest jewellery retailer Signet.
The Vatican also said that the former Pope Benedict's Fisherman's Ring - the special signet ring which contains the pope's name and is impressed to validate certain official documents - had been scored, rather than destroyed, as earlier reports had suggested.
Highlights include a 16th Century signet ring of Johann Ernst von Sachsen, Julich, Kleve and Berg the great grandson of Sibylle von Julich, Kleve and Berg, sister of Anne of Kleve (Cleves) (1515-1554) wife of Henry VIII, King England(1491-1547), illustrated above left.
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