Proview lands $60 million
Apple has finally agreed to a settlement with Chinese company Proview Technology over alleged trademark infringement concerning the iPad name in China. Apple had always maintained that it had purchased the global rights to the iPad trademark from Proview. However, Proview Technology continued to argue that Apple had not purchased the rights to use the iPad name in China.
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Apple has now agreed to settle a lawsuit by paying $60 million to use the iPad name inside China. $60 million is a lot of money, but that is a mere drop in the bucket of Apple's bank account.