Apple has reached a settlement with Proview in order to resolve the two companies' long-standing dispute over the iPad trademark, reports the Associated Press. The popular iDevice maker has agreed to pay the Chinese manufacturer $60 million.
Since February, a Chinese company called Proview has been at war with Apple regarding the Cupertino, CA company's use of the worldwide "iPad" trademark. Now, we're hearing that a Chinese court has postponed ruling on the case until the two companies have completed court-sponsored mediation, according to Apple Insider.
A California judge yesterday threw out Proview Electronics Co.’s lawsuit against Apple over the iPad trademark in China. The lawsuit, which Proview filed in February, alleges that the technology giant engaged in deceptive practices when it acquired the iPad name in 2009.
Apple is looking for a way to end the legal fight with Proview over who owns the iPad trademark in China. According to a new report, Apple is willing to pay Proview to make the issue go away.
