Apple offers $16M, Proview wants $400M for iPad trademark

We all knew at some point Apple and Proview’s squabbles over who owned the iPad trademark would come down to a bid. Well, there are reports saying that Apple is offering up $16 million (100 million yuan) for the right to use the iPad name in China. Of course, Proview didn’t agree with that number, instead, the cash deprived Chinese-based company wanted more. A lot more. Try $400 million, this according to sources familiar with the negotiations between Apple and Proview.

This large number is believed to cover most of Proview’s debts with its creditors, many of which are Chinese banks. Thing is, this $400 million ransom from Proview Technologies is substantially less than the $2 billion it originally wanted from Apple. That said, this whole thing has come off as copyright trolling, as Apple from day one believes it is already the rightful owner of the iPad trademark. Sparingly, Apple bought the iPad trademark from a Proview sister company back in 2009, and that the company has refused to honor that transaction.

Sadly, the legal fight between Apple and Proview has hurt the consumer, as Chinese customers are still not able to buy an iPad. We’re sure once this dispute is settled, residents of the People’s Republic of China will finally get their hands on 9.7-inch retina goodness.

[via TNW]

  • Bradley Larcher

    400 million isn’t pocket change, but they can pay that. 16 million is an insult. Apple makes that in less than a month. What would they prefer, pay the 400 million or have their product banned like they try to everybody’s own

  • Many companies change the names of product for different markets… I shouldn’t think that iTV in the UK will sit back if Apple release their “iTV” in the UK, nor will Apple be able to buy the trademark.

    Just change the god damn name, and avoid any expense to this “company”

  • Tony NoName

    “Believing and Being” are two opposing propositions in the context of REALITY…. and that’s not talking about the results conjured from Apple’s Reality Distortion Field either. Which is the only reason they are “Believing” they own the iPad Trademark in China in the first place. When in REALITY…. Proview China is still the legal owner of iPad Trademark there. Like any property transfer, consummation of a binding contract is never sure until full legal title is transferred and properly recorded. That’s why you should never start moving into a new house until the transaction is closed as well as funds and title have been duly transferred and on public record.

    In Plain and Simple terms, Apple’s high power lawyers did not show due diligence in walking the purchase process through till it was actually closed and China iPad title transferred. Subsequently Apple is illegally using the iPad name in China. Which is like a Jockey running a race before he’s mounted his horse. 

    So even $400 Million would be Apple getting off lightly in view of the legal scam they’re trying to pull off. I mean the UK outfit (fake IP front company) is actually guilty of illegally transferring property that it did not legally have possession or ownership of to Apple. So hey….. Apple, You’re going after the wrong business. Should be biting your own arse or better yet…. like a stupid dog chasing his own tail, your “Believing” you own the iPad Trademark in China is looking even sillier than a tail wagging the dogl! 

    No doubt Apple and Proview will come to some secret deal. Where Apple gives them a Billion or so Dollars as long as they leak an obscure sum of $19 Million to press in order to make Apple look like the winner!!! 😀

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