I think we, the general public, have insufficient information to know what is the correct or legal outcome of this. We do not know the contract contents, and we do not know how AMD formed the new business.
Considering the current negative perceptions against Intel, the level of civilian distrust of large corporations due to the economic crisis, and the various anti-trust accusations against Intel, this seems like a poor move by Intel. AMD will be able to portray itself as David standing off against Goliath and possibly gain sympathy from consumers, and Intel will seem like a monopolistic corporation trying to crush competition.
I, like others, am glad to see that AMD is willing to fight against a corporation with vastly greater resources. Like others, I will be watching this closely as it will have a significant impact on the future of the CPU and PC market (even if it is a renegotiation of licensing agreement costs).