The news in technology today...
First I apologize for my absence once again. I will try to post more frequently, but school and work have become overwhelming. Soon I will be posting a link to some of my newest projects, and things I would love if my readers followed as well. But for now, on to the news.
Proview, a Chinese company, originally held the patent for the name "iPad" and had sold it to Apple for a large sum of money. However, there was a loophole in the contract that Apple must have missed prior to signing.
They weren't allowed to use the name "iPad" in China.
For an international company like Apple, who manufactures the majority of their products in China, this is a huge blow... but not nearly as big as the lawsuit that Proview has put forth in Hong Kong. And it looks like they are going to take the money. A $1.6 Billion lawsuit is on the table, and the Chinese courts have already announced they will most likely rule in favor of Proview.
For more information: http://www.foxnews.com/scitech/2012/02/07/apple-faces-16-billion-lawsuit-in-china-over-ipad-name/
We will have to see what happens after this suit. Of course, this will definitely NOT defeat Apple, as to them the amount is a mild hit, but it is still quite shocking that this text in the contract was overlooked.