Apple reaches $60 million iPad trademark settlement in China

Following months of legal debate, Apple has forked out $60m for the iPad trademark

Following months of court battles, Apple has reached a settlement with Proview Technology, buying the iPad trademark for $60 million

Apple has brought to a close a longstanding legal battle for the iPad trademark in China, forking out a hefty $60 million (£38m) to acquire the naming rights from Proview Technology.

A high-profile case that had seen Apple and Proview repeatedly tussle over the naming of Apple’s market dominant tablet device, the settlement sees the Cupertino based company once again able to focus its sales efforts in Chinese markets.

Having originally registered the iPad trademark back in 2001 former monitor maker Proview Technology has seen the licensing settlement save the company from near bankruptcy with the court case, which began back in February, resulting in Apple finally being about to bring its third-generation new iPad to retail in China.

"The settlement fee is not bad for Proview,” Chen Jihong, a Beijing-based intellectual property rights lawyer at Zhong Lun Law Firm told the Telegraph. “Although Proview owns the trademark, it was Apple, not Proview, who created the brand's value.”

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Via: TheTelegraph