Apple has settled its trademark dispute with Proview over the iPad name in China. As part of the settlement, Apple will pay Proview $60 million for the rights to the name, which Apple claimed it purchased in 2009, but was never transferred.
Speaking with the AP, Proview lawyer Xie Xianghui said the company had hoped for as much as $400 million from a potential settlement, but felt pressure to settle because it needs to pay debts. The company may still be declared bankrupt in a separate proceeding.
“The iPad dispute resolution is ended,” the Guangdong High People’s Court said in a statement. “Apple Inc.
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