On Monday, a Chinese court declared that Apple and Proview have reached an agreement to end the long-lasting iPad trademark dispute. To win the rights for the moniker in China, Apple will reportedly pay $60 million. Although the sum isn’t too big, it is still considerably higher than the $55,000 the company allegedly purchased the trademark for in 2009. Proview, for its part, had claimed that its Shenzhen representatives weren’t present when the deal was sealed, so it hadn’t included the Chinese trademark.
A Chinese court is reportedly pushing for settlement negotiations between Apple and Proview in the ongoing legal dispute over the iPad trademark. However, Apple doesn’t seem willing to agree to such demands and will probably stand its ground until the case is resolved in court.