Apple pays $60m to settle iPad dispute

Published on July 3, 2012 by connie | This story has been viewed 638 views

Shenzhen, China – The iPad dispute between Apple Inc. and Shenzhen Proview Technology that has lasted for several months now has reached a settlement agreement that Apple will pay $60 million dollars to Proview, removing a potential obstacle to sales of the popular tablet computer in the key Chinese market.

On the morning of July 2, the Superior People’s Court in Guangdong Province held public hearings to settle the dispute between Apple and Proview over the ownership of iPad name. “The iPad trademark dispute resolution is ended.” the court said in a statement, “Apple has transfered $60 million dollars to the account of Guangdong Superior People’s Court as requested in mediation letter. And Shenzhen Intermediate People’s Court has delivered the ruling in writing relating to the iPad trademark registration transfer to the Trademark Bureau of the State Administration of Industry and Commerce. ”

Guangdong Superior People’s Court said the choosing of mediation is in the best interests of the two parties.

Apple’s signing of the mediation agreement means its latest iPad will be soon on market in China. Before this, the new iPad had passed China’s 3C authentication and got the permission to access to the telecommunication network in China.

There is industrial insider who believes the successful mediation of this case realizes the best interest of the iPad trademark, and it also protect the interest of the creditor and open a new path to resolve the foreign trademark relating disputes, which is of significant meaning to the development of the intellectual property judgment.

Shenzhen Post Elaine contributes to the story.

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