07-01-2012, 10:42 PM
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Apple to pay $60 mln for iPad name in China: WSJ
Apple Inc. AAPL +2.63% has agreed to pay $60 million to Chinese firm Proview Technology Shenzhen to acquire the local rights to the name "iPad," The Wall Street Journal reported late Sunday, citing a lawyer for Proview. The report said Apple had already transfered the payment after mediation from the Guangdong High People's Court. Proview was ruled to be the rightful owner of the iPad name in China.
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