Chinese Court Rules Against Apple (AAPL) in iPad Trademark Suit
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According to reports Wednesday, Apple (Nasdaq: AAPL) is said to have lost it's iPad trademark in China, meaning it might need to find a new name for the wildly popular tablet.
The ruling comes from a lawsuit launched last year against Proview, which registered 'iPAD' and 'IPAD' as its trademarks, TGDaily reports. Those were made in 2001 following the launch of Apple's iPod, but no specifics were given.
Proview's Taiwanese subsidiary sold the rights on the trademarks to U.K.-based IP Applications in 2009, and Apple acquired those trademarks in 2010 for about $55,000.
Despite the long journey for the trademarks, the Shenzhen Municipal Intermediate People's Court ruled the transfer was not valid. Reasoning is that Proview's subsidiary made the transfer, rather than Proview itself.
Proview is willing to let the trademark transfer, however...for the king's ransom of$1.5 million dollars $1.5 billion dollars (presumably conveyed by the Proview CEO on a comically large monitor).
The ruling comes from a lawsuit launched last year against Proview, which registered 'iPAD' and 'IPAD' as its trademarks, TGDaily reports. Those were made in 2001 following the launch of Apple's iPod, but no specifics were given.
Proview's Taiwanese subsidiary sold the rights on the trademarks to U.K.-based IP Applications in 2009, and Apple acquired those trademarks in 2010 for about $55,000.
Despite the long journey for the trademarks, the Shenzhen Municipal Intermediate People's Court ruled the transfer was not valid. Reasoning is that Proview's subsidiary made the transfer, rather than Proview itself.
Proview is willing to let the trademark transfer, however...for the king's ransom of
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