In a win for Apple, it has at last reportedly secured the iPad trademark in China marking the conclusion of a long, drawn-out battle with Chinese firm Shenzhen Proview Technology.
According to the Associated Press, a Chinese court has ruled the case is now closed between Apple and Proview over who owns the iPad trademark, with Apple reportedly settling with Proview for $60 million and taking ownership of the trademark.
Following numerous court cases and appeals from Apple, a statement released by the Court confirmed the news that an agreeable offer has been reached, saying "the iPad dispute resolution is ended, Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter."
The issue first surfaced in 2010, when Proview raised concerns that it was still the owner of the iPad trademark in China. For its part, Apple claimed that it owned the trademark after purchasing it from a Proview affiliate in Taiwain for a large sum.
China remains one of the last major countries not to have the iPad on sale, with the Proview debacle seen by many as being one of the remaining hurdles before Apple's hit tablet is released in the country.
China isn't the only place where Proview is challenging Apple's ownership of the iPad trademark. In February this year, Proview sued Apple over the trademark in the United States, claiming Apple used corporate trickery to obtain the trademark from the company.