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Tuesday, July 3, 2012
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Apple To Pay Proview $60 Million To Settle iPad Trademark
Case
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Apple has reached a settlement with Shenzhen Proview
Technology by paying US$60 million to the latter in
exchange for the ownership of iPad trademark, clearing the way for Apple to release the new iPad in China.
Apple has reached a settlement with Shenzhen Proview
Technology by paying US$60 million to the latter in
exchange for the ownership of iPad trademark.
The high people's court of Guangdong province in China on
Monday announced the ruling, which essentially ends the
dispute over the iPad trademark in mainland China.
Shenzhen Proview Technology is a subsidiary of Taiwan's
Proview Technology Group. Yang Jung-shan, chairman of
Proview Technology Group, expressed that the settlement
price is unsatisfactory but acceptable, adding that it
could have won more settlement payment had it not been for
the company's business plight.
The settlement will be able to clear the blockade for Apple
to tap the huge mainland Chinese market and the company's
iPad series will be able to hit the Chinese market
extensively.
The trademark dispute originated from the fact that iPad
trademark was conceived by Taiwan Proview Technology, which
registered the trademark in Taiwan and mainland China in
2000 and 2001, respectively.
In 2006, Apple bought iPad trademark from Taiwan Proview at
US$55,000. Shenzhen Proview, however, has claimed that it
still owns the trademark right in mainland China and asked
US$2 billion of compensation from Apple.
Apple has yet to announce a China release date for the iPad
3 but the country's telecommunications equipment
certification agency approved the tablet in May. |
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