Thursday, July 5, 2012
Finally, Apple owns the name 'iPad'
Apple finally acquires the name "iPad" in China.
Shenzhen Proview Technology had trademarked the name "iPad" in 2001. Apple paid the company about $55,000 in 2009.
Company reportedly pays $60 million to Taiwan's Shenzhen Proview Technology. Proview argued Apple negotiated as a fake company: IP Application Development.
A lawyer for Proview told the Times that the company hoped for more money but settled because it has debts to pay. He said it had wanted as much as $400 million, according to the Times.
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