Apple Settles iPad Suit

Apple Inc. will pay $60 million to settle a trademark dispute with a Chinese company over the iPad name, according to a Chinese court, potentially resolving a case that illustrated new intellectual-property challenges for foreign businesses in China.

An attorney for the China-based unit of a Hong Kong computer monitor maker, Proview International Holdings Ltd., said on Monday that the settlement had been reached via mediation. A post on the official microblog account of the Guangdong High People’s Court’s confirmed that settlement had been reached as well as the settlement amount, and said it took effect on June 25.

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