Apple Pays $60 Million to Use iPad Name in China

Apple Pays $60 Million to Use iPad Name in China

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A Taiwanese company gets paid twice for transferring trademark to Apple.

What's in a name? That which we call an iPad by any other name would smell as sweet - or vaguely chemical - but it wouldn't have cost Apple $60 million. That's the price Apple just paid to acquire the right to use the iPad name in mainland China, and all because of a snafu that occurred when it bought the rights from Taiwanese company Proview back in 2009, for $55,000.

Proview had sold Apple the right to use the iPad name in mainland China - rights which went back to 2001 when Proview registered the iPad trademark - but neglected to transfer those rights even after it signed the 2009 agreement. It was alleged - and a Hong Kong court agreed - that the Taiwanese businessman who owned Proview had deliberately done this in order to injure Apple. A Hong Kong court ruling isn't binding in mainland China, so the trademark dispute raged on until the current arbitrated deal.

Proview had been asking for $400 million and Xie Xianghui, a lawyer for the company, claimed that it was on the verge of bankruptcy. The deal was eventually reached because Proview needed the money to settle debts but, Xie alleged, even with the $60 million bailout it could still go under. Xie described the arrangement as "acceptable to both sides."

Presumably that's "acceptable" in the same sense that a steak dinner is acceptable to both diner and cow. Apple's next step is to roll out the iPad 3 in mainland China as quickly as possible, and put this whole messy business behind them. $60 million is just a drop in the ocean to a company with their cash reserves; a considerably larger drop than $55,000, but still nothing to get too upset about.

Source: Guardian

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I wish Apple and more companies would give a big "fuck you" to China and then refuse to sell products there. This whole lawsuit is such a blatant crock it's mind boggling.

"Let's sell the name to Apple but never actually give them what they bought, and then let's sue them for daring to use the name they bought! Brilliant" That's what this amounts to.

Take all of your piracy and thieving crap and piss off China.

Tis but thy name that is my gravy train.

Eri:
I wish Apple and more companies would give a big "fuck you" to China and then refuse to sell products there.

Well they were MADE there.

You knock off everything made by man (heck you even make FAKE eggs) and then compete with the original creators with your cheaper "quality questionable" product but when someone actually wants to sell the OFFICIAL brand you've been selling the knocking off of for months a FINE must be paid!?

I just find this all hilarious.

It's good to see Apple getting fucked around with after all the fucking around they've done with us.

Eri:
I wish Apple and more companies would give a big "fuck you" to China and then refuse to sell products there.

Apart from being made there, the less scrupulous of the Chinese buisnessmen are more than happy to arrange to make and sell counterfiets or buy them from outside then sell them on or make thier own versions.

FantomOmega:
You knock off everything made by man (heck you even make FAKE eggs) and then compete with the original creators with your cheaper "quality questionable" product but when someone actually wants to sell the OFFICIAL brand you've been selling the knocking off of for months a FINE must be paid!?

ironically, they'll probably face stiff competition from the knockoffs that were able to cover the market while apple was still dealing with this issue

Considering that Apple has gotten Samsung banned from selling some of their tablets in Germany and the US based off a vague patent drawing, I'm glad someone pulled something like this on them. I wonder if they'll try to sue Microsoft to try and keep their tablet off the market too? It does look rectangular after all.

Did anyone else throw up in their mouths a little when they heard the amount of money being thrown around in this news story? I mean seriously, what the fuck happened to the world... $60 million for a name!? I could establish a country for that!

 

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