The AP reports Apple has now settled a protracted trademark dispute with Chinese firm Proview over the iPad name for a mere $60 million. That’s just 8.5 hours of Apple’s profits at its current run rate, and is vastly reduced from the billions of dollars figures Proview had been talking about. The dispute centered over some tricky legal maneuvering, with Apple claiming its subsidiary had acquired global access to the iPad trademark, including in China, from Proview prior to the iPad’s release–but Proview said it was an illegal purchase made via a subsidiary which had no rights over the name in China. Proview is in deep financial trouble, facing bankruptcy, and had recently been saying it hoped for up to $400 million in settlements from Apple. Apple is now free to sell the iPad in China, one of its fastest-growing markets, without worrying about the legality of the trademark.
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