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.
Written by: Puneet Batish - ♂ Founder & Author
A Bio Informatician, MCSE, technology developer, Attorney & founder of GeekUpd8. He is currently practicing as an Attorney.