Apple To Pay $60 Million, Settle iPad Trademark Dispute
Talk about the tide turning. Used to be harder to find a ton of negative comments about Mac/Apple, but since the passing of the founder; seems all bets are off. Shows further push-back of individuals toward corps that don't behave in ways the new norms deem acceptable. Watch for this to become even more prevalent as time progresses this year.
According to a Chinese court, Apple has agreed to pay a Proview Technology $60 million to settle a dispute over ownership of the iPad name. Apple said it bought the global rights to the iPad name from Proview in 2009 but a Chinese court ruled in December that Proview still owned the name in China. The settlement ends a potential legal complication to selling the popular iPad in China, one of Apple's most important markets.
What Others Are Saying...
Apple actually got pretty lucky here, as it could have been much worse. They had little choice but to cave in on the negotiations, otherwise they would have missed out on hundreds of millions in ipad sales.
Boycott iPads until Apple brings the manufacturing to the US. American company + American hero, Steve Jobs (supposedly) + American ingenuity = Chinese jobs. … Just about every trademark out there is owned by a Chinese company under Chinese law. Yes - Chinese courts can make a fair and impartial ruling. … Because China is a stickler for intellectual property law. … It is a good deal for Apple, because sales of iPads, which are in great demand, can compensate for this $60 million cost.
Standard business practice worldwide to avoid paying more than something is worth. … I was at the Apple store in The Woodlands mall on Saturday and saw about 4-5 people request new Macs in under 5 minutes. If this is the trend at all of their stores, I'm not so sure it would even take them an hour. … I'm certainly not heart broken that Apple had to pay $60m out of there $100b+ but it's still a joke they had to pay $60m for a name they already bought out.