The international technology company Apple has agreed to pay $ 60 million (48 million) to Chinese rival Proview to end the long dispute between the two companies for the right to use the mark iPad in the Asian power.
The highest court in the southern province of Canton, where Proview is settled, said Monday that Apple has already transferred the money to an account of the Chinese company under the agreement the two companies reached on 8 May. As agreed, Apple will continue its sales on Chinese soil without interruption, after the dispute significantly delayed the entry of the new iPhone to the Asian power market.
The manufacturer Proview Shenzhen China claimed the right to use the mark iPad China subsidiary alleging that his Taipei counterpart had registered the name in various countries and regions in 2000.Although Apple bought Proview Taipei rights to use the iPhone trademark in 2009, continued to claim the Asian use the name registered in mainland China, in a legal battle that began last year.
In December 2011, a Chinese court gave Proview, now in bankruptcy, the right to use in China called iPad, but both companies decided last May to reach a financial settlement to end the dispute.