The dispute between Proview and Apple has ended at the Guangdong High People's Court in China, as the Court rules Apple owns the trademarked name "iPad", settling the case for $60 million, far short of the $400 million Proview had sought.
Proview originally trademarked the name iPad in 2011, and Apple paid the Chinese based company $55,000 in 2009, but Chinese authorities refused to recognize the payment and ruled last year that Proview still owned the name in that country. The Chinese government's previous ruling threatened sales of the popular iPad in China, the world's second largest iPad market behind the U.S.
Prior to the Guangdong Court ruling, a Chinese mediator said Apple should pay Proview $60 million, which angered Proview, who wanted $400 million. Reports suggest Proview eventually accepted the settlement because it was on poor financial ground with significant bills to pay.
Regardless, the court ruling today put an end to the debate, one in which Apple would have had to stop selling iPad's in China.