Apple Settles Case Against Proview Over iPad Trademark
Apple agreed to settle their dispute with Proview Technology Shenzhen over the iPad trademark use in the Chinese mainland by paying US$ 60 million. The Higher Court of Guangdong Province asked Apple to transfer the money to a assigned account by the court.
The settlement agreement took effect last June 25 and the Intermediate Court of Shenzhen then asked the State Administration and Commerce to transfer the trademark iPad trademark over to Apple. Both parties involved agreed on the settlement and both companies have no longer any disputes over the iPad trademark.
Although Apple bought the rights to use the iPad trademark from Proview Taipei in 2009, Proview Shenzhen has reserved the right to use the trademark since registering it on the Chinese mainland in 2001, bringing both companies in a drawn out legal battle. In February, the Guangdong Higher Court heard their case and ruled in favor of Proview Shenzhen and in June Proview Shenzhen was again in court for a bankruptcy case for owing eight Chinese banks more than US$ 400 million.
The sum of the settlement might not be enough for Proview Shenzhen to pay off its debts, experts say that the settlement can help Apple grab a huge chunk of the market in China, otherwise Apple might not have been able to sell their popular tablet in the Chinese mainland.