Apple 'settles' iPad trademark dispute
Apple has agreed to pay $60 million (£38 million) to Chinese firm Proview in order to settle a dispute over the rights to the name iPad.
Proview had claimed that it owned the rights to the iPad name in the Chinese market after registering it first in 2000.
However, the American firm insisted it had acquired the worldwide legal claim to the name in 2009.
A court in Guandong had asked the two companies to reach a settlement after months of wrangling in which Proview attempted to get iPads banned in China.
Proview confirmed to BBC News that the case is settled and both sides are "satisfied" with the agreement reached.
"The iPad dispute resolution is ended. Apple Inc. has transferred $60m to the account of the Guangdong High Court as requested in the mediation letter," the Guangdong High People's Court said in a statement.
Posted by Claire Marshall
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