Apple pays $60 million in settlement of iPad name dispute in China

07/03/2012 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)

Beijing – Apple Inc. has reportedly paid a $60 million settlement to a China based company in connection with a dispute over the iPad name. As reported by the Associated Press (AP), the court announcement that the company’s dispute with Shenzhen Proview Technology was made Monday.

Apple Inc. reportedly purchased the iPad global name rights from the company in 2009; however a Chinese court previously ruled that the name was still owned by Proview in China because the rights had not been transferred in the country.

Guangdong High People’s Court is quoted by the AP as releasing the statement regarding the settlement, “The iPad dispute resolution is ended… Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter.”

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