Apple Might Lose the 1.6 Billion USD "iPad" Brand Lawsuit
2/7/2012 by: Theo Valich
When Apple launched the iPhone smartphone and the iPad tablet, there was just one problem with the name: the name "iPhone" was already owned by Cisco, while "iPad" was owned by Proview Electronics.
While Apple got Cisco to give them the brand name in exchange for a lot of networking equipment being sold, Chinese Proview Electronics were not so cooperative. While a deal was struck that Apple uses the brand outside China for a measly sum of $55,000, the lawsuit clearly stated that the deal did not cover the territory of China.
Apple Insider reported that in what is a cold shower for Apple, back in December the Chinese judge ruled in favor of Proview Electronics, meaning Apple would have to pay up no less than 10 billion Yuan i.e. 10B Renminbi (RMB) in damages. Translated into international sum, we're talking about 1.6 billion US dollars in damages. Additionally, the court decided to additionally punish Apple with an 240 million RMB i.e. $38 million fine.
Apple has appealed against the verdict, but the time will tell what Apple can do against Proview. The lawyer for the company stated that Proview fought against Apple for the past couple of years, and "have prepared well for a long-term legal battle".
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