Apple Inc. (NASDAQ:AAPL) is ready to settle their dispute with Proview International Holdings Limited (HKG:0334), the company that filed a lawsuit against the tech giant for the use of the name iPad. The lawyer for Proview, Xie Xianghui, recently told Xinhua that both parties are working on settling on an agreement. He also claimed that Apple has proposed an amount of money they think is fair. Proview has yet to settle on an agreement.
Xie also reported that he thinks Apple has changed their tune a little bit and that they are a little more willing to work with his client. He also hopes that both companies reach an agreement soon. However, it is important to note that Xie has been claiming that both companies were on the verge on an agreement since February and so far they haven’t settled on something.
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It is most probable that Proview will win this case but it could take years before they receive their compensation in full.
According to the filings, Proview claims that Apple acted fradulently when they utilized IP Application Development, Ltd to purchase rights for the iPad name. However, back in 2009, those rights were first bought from a Taiwanese affiliates for about $55,000 or 35,000 pounds.
This case has seemed like it’s gone on for an eternity. Although Apple has made a real effort to find common ground, it appears that Proview will not settle until they get the compensation they think they deserve. It costs a lot of money to take settlements into court and it costs even more money to fight the case in court. It would make a whole lot more sense to reach an agreement but I guess that is not what Proview wants.
Let’s hope for Apple’s case, both parties can finalize something. Perhaps, Apple should make a higher offer on terms that Proview can agree on.
Image Credits: Mac Observer