Apple Settles Trademark Dispute With Proview For $60 Million
Might is right! No matter whether you are right or wrong, the victory belongs to the one who is more powerful. Super-heroes may have defeated villains that were more powerful than them (heroes) in comics but this does not happen in real life. At least, not in China.
Apple has learnt that. Proview’s lies have won. The portrayal of Chinese as cruel and evil in Christopher Nolan’s Batman Begins and Smallville Season 4 episode “Sacred” has been proven true.
Associated Press has reported that Apple and Chinese company Proview Technology have reached a settlement deal that involves Apple paying $60 million for the rights to the “iPad” trademark in China.
“The iPad dispute resolution is ended,” the Guangdong High People’s Court said in a statement. “Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter.”
Proview began publicly objecting to Apple’s use of the iPad name in late 2010, despite selling the rights to Apple for the same years ago. This was a bid to extort money from Apple as Proview was trying to save itself from bankruptcy. The situation escalated to see Proview demanding bans on iPad sales in the country and up to $1.5 billion in compensation.
Settlement talks initiated earlier this year reportedly saw Apple offering $16 million to settle the case, as the jingoist judiciary and government of China was supporting Proview’s lies and Apple was all alone. However, Proview was apparently holding out for a $400 million settlement as beggars can be choosers (and extortionists) in China.
Apple argued in several court cases that it had acquired the Chinese rights to the iPad name in late 2009 as part of a deal with Proview’s Taiwanese arm. That deal, was brokered by Apple dummy corporation IP Application Development, reportedly saw the rights to the name transferred in a number of markets around the globe for just $55,000.
Proview later claimed that the Chinese rights to the trademark were owned by its Chinese subsidiary and that the Taiwanese arm consequently could not have sold them to Apple. Ironically, in the meeting finalizing this deal, Proview was represented by its executives in Taiwan and Shenzhen.
This once again proves that Proview found its way to legal victory by riding on the Anti-American sentiment of Chinese government and Chinese judiciary. Apple did not owe a cent to Proview but ended up paying $ 60 million for nothing.
Source: Mac Rumors