Apple escapes iPad trademark suit with $60 million settlement

Apple Proview iPad Trademark Settlement

Though Apple insisted it was in the right, the Cupertino, California-based company has agreed to pay $60 million to settle a trademark dispute in China. Proview International filed multiple lawsuits earlier this year seeking to ban sales of Apple’s iPad tablet. The struggling company claimed that Apple had not properly secured licenses to use the “iPad” name, which had been trademarked by Proview long before the tablet was introduced in 2010. Apple insisted that an agreement had been reached in 2009, but now the company has agreed to settle the case in China for $60 million, the Associated Press reports. “The iPad dispute resolution is ended,” the Guangdong High People’s Court said in a statement issued on Monday. “Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter.”

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