A Taiwanese monitor manufacturer, Proview, claims they registered the term I-Pad in 2000 with the European Union, so they are suing Apple for the infringement to the tune of $1.5 billion!
They sold the global trademark in 2006 (except for in China) for $55,100 but were not informed that Apple was the one buying it. They simply went by IP Application Development and registered iPad in the US in 2010.
Proview's chairman Yang Rongshan said:
"We will sue them for damages in China and in the US. We are in big financial trouble and the trademarks are a valuable asset that could help us sort out part of that trouble."
The company defaulted on loans, so Chinese creditors own their assets and trademark. Apple and IP Application Development are aware of the problems because they have sued Proview in the past for the Chinese IPAD trademark.
Yikes! This is gonna get messy.
Tags: apple, china, ip application development, ipad, proview, taiwese, trademark