Proview lowered asking price of iPad trademark from $2 billion to $63 million after Apple offered $16 million
Apple and Proview are apparently in talks to settle the case of who has rights to the iPad trademark in China, and rumor has it Apple's initial offer was $16 million. This is after Proview's initial ask of a whooping $2 billion in February, which they've since lowered to $63 million according to anonymous sources. Although it might seem like an obscene amount to ask, it's worth noting that Proview is a company on the verge of economic collapse with creditors knocking on their door.
Proview has claimed that the UK-based middle-man that had originally sold the rights to Apple a few years ago actually didn't have the authority to do so, thus nullifying any earlier agreement, while Apple is contending that the original agreement was legitimate.
This trademark hurdle is slowing down the new iPad's arrival in China, but by the sounds of it, Apple's patience will outlast Proview's needs to pay off debts. Anyone want to take bets on how long it will take for this trademark battle to conclude?
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