Apple Inc. has agreed to pay $60 million to Shenzhen-based Proview International Holdings Ltd. to settle a Chinese court dispute over the use of the “iPad” trademark in China.
According to a report of the Guangdong High People’s Court, the settlement funds have been transferred into the court’s account. With the case settled, Cupertino, Calif.-based Apple will own the “iPad” trademark in mainland China.
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