Few weeks back, we reported that Apple and Proview were in talks to settle the dispute over the iPad trademark in China.
The Next Web reports that according to sources familiar with the negotiations, Apple has offered Proview 100 million yuan or $16 million to settle the dispute.
Until now, Apple has insisted that it had bought Proview’s worldwide rights to the iPad trademark in 10 countries including China several years ago. Proview, however, claims that the agreement didn’t hold in China, saying that the Taiwanese subsidiary which dealt with Apple had no right to sell the Chinese trademark.
The Next Web reports that the $16 million offer made by Apple is well short of Proview’s expectation. Proview has gone bankrupt and owes $400 million to its creditors. Proview, which has sued Apple for $2 billion, is looking to settle for at least $400 million from the settlement so that it can pay its creditors.
But it seems unlikely that Apple will increase its offer anywhere close to $400 million based on its initial offer.
Meanwhile, a Californian judge has tossed Proview’s trademark infringement complaint against Apple. Wall Street Journal reports:
After Proview took its legal case to the U.S., Apple argued for the case to be dismissed on the grounds that the parties had agreed to settle any legal disagreements in Hong Kong.
Judge Pierce upheld that view, writing that Proview failed to provide evidence that the selection of Hong Kong was “unreasonable or unfair,” according to a copy of the order.
It will be interesting to see how much Apple ends up paying Proview. Any guesses?