iPad 3 release date in China nears: Trademark bought for $60M

Yes, China will soon be able to buy the iPad 3. The release date surely nears, as Apple (NASDAQ:AAPL) finally settles its trademark dispute there. It's cost the pomaceous ones $60 million, which will be useful for cash-strapped Proview (HKG:0334). In IT Blogwatch, bloggers remember when 'iPad' was an unfortunate name.

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By Richi Jennings: Your humble blogwatcher curated these bloggy bits for your entertainment. Not to mention: Evolution of the Web...

Michael Kan can has the news:

The Guangdong Province Higher People's Court announced the settlement on Monday. ... Chinese authorities transferred the "IPAD" trademark to Apple. ... Apple and Proview were in recent months in talks to settle.

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Proview had wanted as much as $400 million in settlement. ... Eight banks have taken over Proview's assets and are owed $180 million. ... Apple initially wanted to pay only a few million dollars.      
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Joe McDonald and Fu Ting add, from Beijing:

Apple...says it bought the global rights to the iPad name from Proview in 2009 but...[a] Chinese court ruled in December that Proview still owned the name in China.

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The dispute centered on whether Apple acquired the iPad name...when it bought rights in various countries from a Proview affiliate in Taiwan for...$55,000. ... Apple has yet to announce a China release date for the iPad 3.      
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And Jon Russell rustles up this insight:

Proview has been keen on negotiating for some time. ... Apple reportedly tabled its first settlement offer at the beginning of May. ... [It] said to have offered an initial $16 million, which was some way short of [what] Proview was seeking [so] it has taken time to strike a final agreement.

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[E]arlier this year...cash-strapped Proview took its claim...to a Chinese court, which...centered around whether Apple’s use of a...shell company was legitimate.

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Tim Cook became the first serving CEO to visit China...in March and...he was reported to have discussed the trademark case with senior Chinese politicians.      
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Meanwhile, Bobbie Johnson is fed up of being mistaken for Boris de Pfeffel:

But Rene Ritchie is more succinct:

This is still probably $60 million more than Apple wanted to pay, but it will grant them unobstructed entry to the Chinese market.      

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And Finally...

Evolution of the Web

[hat tip: Andy Baio]

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