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Apple pays $60 million to settle suit in China
You remember that lingering litigation in China a while back over a company that wanted to be able to sell something called an iPad except that the company wasn’t Apple? Proview says it registered the name iPad way back in 2000 but Apple said it acquired all the rights to the name in 2009. Alas.
Apple had bought the global rights to the “iPad” from Proview’s Taiwanese affiliate for $55,000 (£35,000).
However, the Chinese firm had argued that its affiliate did not have the rights to sell the iPad name rights for China, which is one of the fastest-growing markets for Apple’s products.
The dispute between the two firms resulted in Apple’s iPads being pulled off the shelves in some parts of China.
Now Apple has settled up the case for 60 million bucks, which is an amount that I would be delighted to find on the sidewalk but an amount Apple won’t likely notice much.