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.
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
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Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.
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.
Amen to that. Enough legal nonsense.
a serves apple right but they should have to pay 6 bilion
Now apple can focus back on destroying android. Android will go the way blackberry paved !
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