Apple has reportedly offered 100 million yuan ($16 million) for rights to the iPad name in China in its ongoing legal battle with Proview, reports “The Next Web” (http://macte.ch/6pBPd). However, “cash-strapped” Proview is apparently holding out for at least $400 million in order to appease its creditors, eight of which are Chinese banks, the article adds.
Last week a California judge tossed out a lawsuit in which the Chinese firm Proview Electronics accused Apple Inc of tricking them into selling the “iPad” name for less than it might have, reports “Reuters” (http://macte.ch/LF8xB). Judge Mark Pierce dismissed the case, agreeing with Apple’s argument that the two parties had agreed to settle any disagreements in Hong Kong, the article adds.
In February accused Apple of “deception” in the way it acquired rights to the iPad name. In Californian court filings, Proview claimed Apple created a UK-registered “special purpose company,” IP Application Development Ltd (IPADL).