Apple paid $60 Million to Chinese Company for 'iPad' name

Apple paid $60 Million to Chinese Company for 'iPad' nameFinally "The iPad dispute seems to have ended". The name 'iPad' was bought by Apple from a Proview affiliate in Taiwan for $55,000 in 2009. But in China, the name was left registered with a Chinese Company called Shenzhen Proview Technology. The dispute finally made Apple pay $ 60 Million to this company.

Earlier The New York Times reported, Apple has agreed to pay Chinese Company Shenzhen Proview Technology $60 million for the name “iPad”. The Chinese court in December announced that Proview which registered the name 'iPad' back in 2001, was still having the rights for this name in China.

Proview is said to have demanded $ 400 Million from Apple, but the deal was settled on $ 60 Million, which is said to have paid the debts of the company. So that is how the iPad dispute finally ended up. The Guangdong High People’s Court said in a statement, that Apple has already transferred the funds to the court and announced the official resolution of the dispute.

Puneet Batish - Founder & AuthorWritten by: Puneet Batish - ♂ Founder & Author                                GeekUpd8  Find Geek Upd8 on Facebook  Follow Geek Upd8 on Twitter  Add Geek Upd8 on Google+ Circle  Subscribe
A Bio Informatician, MCSE, technology developer, Attorney & founder of GeekUpd8. He is currently practicing as an Attorney.

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