Apple pays Proview $60 million for iPad trademark in China

Apple owes Proview $60 million for iPad trademark says Chinese court

Apple has agreed to pay $60 million dollars to Proview Technology, the Chinese company with which they've had a longstanding dispute over the iPad trademark, ending litigate before the Guangdong High People's Court court.

Apple has maintained they bought all legal rights to the iPad name in a previous, global transaction back in 2009, but the Proview disagreed, saying the Chinese rights were never transferred. Back in December, the Chinese court sided with Proview on that point.

Proview initially sought $2 billion in damages.

Proview hoped for more money but felt pressure to settle because it needs to pay debts, said a lawyer for the company, Xie Xianghui. He said the company had hoped for as much as $400 million and might still be declared bankrupt in a separate legal proceeding despite the infusion of settlement money.

"This is a result that is acceptable to both sides," Xie said.

This is still probably $60 million more than Apple wanted to pay, but it will grant them unobstructed entry to the Chinese market. Apple's second largest after the US.

Source: Associated Press

Rene Ritchie

Editor-in-Chief of iMore, co-host of Iterate, Debug, Review, Vector, and MacBreak Weekly podcasts. Cook, grappler, photon wrangler. Follow him on Twitter and Google+.

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Apple pays Proview $60 million for iPad trademark in China

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As good of an investment as that is, I feel like people try to provoke Apple into spending ludicrous amounts of money. Just do they can get their little piece of the fortune.

This is actually a win for Apple, given the extent to which Chinese courts are the ultimate home court disadvantage for American companies (just ask Microsoft). Apple probably has 60M in the sofa cushions on the Cupertino campus, so the money is not a hardship. Now they can put this behind them and get about the business of growing China into their largest market. The sad part is, this was obviously a grab by Proview to stave off bankruptcy, and 60M is barely enough to delay the inevitable.

Now Proview can die while the execs pocket Apple's pocket change. Good. Now Apple can perhaps get back to innovating and do something about keeping some of the talent that is bailing left and right.

Sounds like a payoff to the Chinese government so they are allowed to continue doing business.

If you want to do business in China, you pay off the Chinese govt. It could be in the form of money to a shell company like Proview. But you still are giving it to the regime.

That may not represent a significant amount of money to Apple but it's still quite a bit in my book. Glad it's over and they can get back to business, now if the 3 billion other lawsuits Apple is involved in worldwide could get settled and the entire industry could move forward.

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