Proview's creditors claim they now own the IPAD trademark

Proview's creditors claim they now own the IPAD trademark
In a legal twist that has more than a dash of the ironic in it, Proview is now being sued by its creditors, claiming that they should be the ones that own the IPAD trademark. Fubon Insurance, of Taiwan, took Proview to court last week to try and liquidate Proview’s assets. That move lead to the eight banks that are handling Proview’s bankruptcy to quickly start to portion out the assets – you know, just to make sure everyone gets their fair piece of the pie.

As a result, the banks issues a joint statement this week, which included the claim that Proview’s trademarks now belong to them, and as such the IPAD trademark dispute was now “essentially between Apple and the eight banks.”

Who says fate doesn’t have a sense of humor? This wouldn’t let Apple off the hook (assuming that the final verdict rules against Apple, which may not happen), but it’s starting to look like Proview won’t be able to benefit from any potential settlement or ruling they are able to extract. Also, fair or not, this turn of events strongly reinforces the perception that Proview was a desperate company trying to get some fast cash from Apple, rather than one legitimately protecting its IP.

Of course if Apple announces the iSlate HD today you’ll know that Proview’s (or rather, Proview’s Banks’) position is stronger than we thought. But that doesn’t seem very likely to happen.

source: WSJ via electronista

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5 Comments

1. itiswhatitis

Posts: 423; Member since: Jan 23, 2012

Amazing World of Technology!

3. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

It all depends on Chinese bankruptcy law....

4. -box-

Posts: 3991; Member since: Jan 04, 2012

Well, if the banks are going to be more ferocious and greedy about it than proview, more power to them, but only if they'll be successful

5. roscuthiii

Posts: 2383; Member since: Jul 18, 2010

Fubon of Taiwan huh? How funny would it be if HTC was actually the driving force behind behind the suit and Fubon was a false front like the company Apple used to buy the iPad trademark.

6. steelicon

Posts: 318; Member since: Apr 02, 2011

What do you mean "if"? ALL banks, by nature, are ferocious and greedy. Bad luck for Apple, LMFAO!

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