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Apple pays US$60m to settle iPad dispute
By Ye Zhen |
July 2, 2012, Monday
|
Online Edition
Online Edition
APPLE Inc settled its ongoing dispute with Shenzhen Proview Technology over the ownership of the "iPad" name by offering the latter US$60 million, the Higher People's Court of Guangdong announced on its microblog today.
Apple and Proview reached the settlement through mediation and a civil conciliation statement has been sent to both parties on June 25, which now has taken effect, the court said.
Proview, which registered the iPad name in both Taiwan in 2000 and on the Chinese mainland in 2001, sold the Taiwan rights to Apple in 2009 for US$54,000 but not the China rights.
The settlement removes a legal problem for Apple to sell iPads in China, one of the company's most important markets.
Apple and Proview reached the settlement through mediation and a civil conciliation statement has been sent to both parties on June 25, which now has taken effect, the court said.
Proview, which registered the iPad name in both Taiwan in 2000 and on the Chinese mainland in 2001, sold the Taiwan rights to Apple in 2009 for US$54,000 but not the China rights.
The settlement removes a legal problem for Apple to sell iPads in China, one of the company's most important markets.
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