An end to a now long-standing patent tussle between Cupertino-based Apple Inc. and Shenzhen, China-based Proview Technologies may be near, as the companies may be looking at an out-of-court settlement, according to reports. For those not in the know - Proview Technologies took Apple Inc. to court when the former claimed that they were the rightful owners of the trademark name iPad in China, and not Apple, hence the Cupertino-based company was violating on their copyrights by selling their tablet computers in the country. Apple, quite contrary to Proview’s claims stated that they had acquired the global rights for the trademark name - iPad - and hence were the rightful owners of the term in China, too.
On this premise, a large scale patent lawsuit boiled over in China, wherein the sales of Apple’s popular tablet computer, iPad, were halted following a temporary impoundment order by Proview Technologies. China is one of Apple’s crucial markets for their products, and with the sales of the tablet coming to a near halt in the country, the picture began turning bleak, since not only is China one of the biggest markets for Apple products, but also it is in China that half of Apple products are made. Now, according to reports, both companies have agreed on discussing the possibility of an out-of-court settlement.
Times of India now reports that both Apple and Proview are in dispute over the the amount of money that is to be compensated, since there is a lot of difference between what both Apple and Proview are expecting. Proview, reportedly, owes banks roughly $400 million, hence it faces a pressure of its own to press a deal. Yet another report, has stated that Apple will be offering an undisclosed amount to Proview Technology, in a bid to settle the brewing dispute over the iPad trademark. According to this Times of India report, Apple has offered a compensation package to Proview Technology, but the latter is yet to accept it. Proview Technology, only recently received support from the Chinese Commerce Ministry, thereby adding pressure on Apple.
Quoting Proview's attorney Xie Xianghui, the report stated, "Both parties are now negotiating a settlement. Apple and Proview are both willing to reach a settlement and it would be beneficial for both sides to reach an agreement as quickly as possible. Now the two sides are disputing the amount of compensation because the difference between the demands of each party is relatively big."
Published Date: May 08, 2012 03:02 pm | Updated Date: May 08, 2012 03:02 pm