Apple Pays $60 Million To Chinese Company For ‘iPad’ Trademark
A few months ago we covered a story in which Apple was having a legal tussle between a Chines company over the term ‘iPad’. Well things didn’t work out too well for the ‘forbidden fruit’; a Chinese court fined in favor of the plaintiff, Proview Technology in the sum of $60 million.
The amount is a flash in the pan for Apple for sure, but it marks an interesting and somewhat significant legal ruling—one which other companies outside the US will no doubt use as a benchmark for for future lawsuits.
If you are unfamiliar with the background surrounding Apple’s latest pickle, it started back in 2009 when Apple bought the iPad name in various countries through a Taiwanese affiliate. That transaction was a measly $55,000 but it turned out that the affiliate didn’t mention the fact that Proview Technology still owned the name back in China. The dispute naturally escalated from there and Apple tried its best to avoid any legal penalties.
In the end $60 million wasn’t an awful lot to make a company go away and Apple I am sure will be relieved that the battle is over. The iPad will obviously generate a lot more than $60 million in the next few months alone so Apple doesn’t really lose. Proview gets a cool $60 million and everybody is happy.