Apple offers to settle with Proview over the iPad name, clearing hurdles to conquer China
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Apple has allegedly offered a settlement amount to Proview for the right to use the term iPad on its devices in Greater China, where Proview is the trademark holder still, and made the Chinese authorities seize iPads from shops while making its case.
Proview wanted the mindnumbing $2 billion, to which Apple's lawyers apparently said "over our collective dead bodies", but the terms of the new settlement offer are not disclosed, naturally. Apple's counteroffer came as part of the mediation process directed by the Higher People’s Court of Guangdong, confirmed Roger Xie, a lawyer for Proview:
The Guangdong Higher People’s court is trying to mediate this, and both parties are trying to negotiate and come to a settlement. Right now, there is still a big gap between the two sides on the settlement amount.
China has the potential to become the most important market for Apple, and Proview is pretty troubled financially, so we have no doubts that money wil exchange hands, and an iPad will still be an iPad in China, but at least Proview is making Apple work for the privilege to cross the Great Wall.
source: Bloomberg
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8 Comments
1. som posted on 08 May 2012, 14:46 1 0
Is it $1 billion instead of $2 billion anyway we don't know what is the settlement.
2. ZEUS.the.thunder.god posted on 08 May 2012, 14:53 8 4
atleast apple would know that they dont own the planet. i wish jobs could see that. he would be really pissed.
3. medicci37 posted on 08 May 2012, 15:09 5 2
If Apples lawyers had did their job, they wouldn't be in this mess. Still most people in China either don't want a iphone or will get a knockoff.
8. Lucas777 posted on 08 May 2012, 18:52 1 1
because apple settled with proview from the very beginning... something went wrong in a contract or something and proview decided to sue in china... that is why they have not sued in other places i believe, cause apple has the name from the original contract-- i am not sure of the full story
5. Mr.Best posted on 08 May 2012, 16:56 2 1
It's Justice! I'm glad that Apple is on the other end of the lawsuit spectrum.
