Apple to Settle Lawsuit With Company That Owned iPhone Trademark
Apple and the Brazilian company IBN are prepared to settle a lawsuit filed over the iPhone trademark.
Forbes is now reporting that both companies have agreed to end the lawsuit over iPhone and come to some kind of settlement. Apple has had to pay millions of dollars in the past for its exclusive use of the name for its flagship smartphones, and now it seems that the company will have to cut another check in order to satisfy IGB.
IGB applied for the "iPhone" trademark back in 2000 and Apple's phone was granted the trademark in 2008. Apple challenged IGB's trademark based on the fact that the company did not attempt to use it until it was close to expiration. However, the Brazilian Industrial Property Institute ruled in LGB's favor, allowing the company to offer a low-cost Android smartphone with the brand late last year.
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The Brazilian electronics maker IGB stated last month that it was willing to sell the exclusive rights for the name "IPhone" to Apple.
"We're open to a dialogue for anything, anytime, "said Eugenio Emilio Staub, chairman of IGB, in an interview in Sao Paulo. "We're not radicals."
Apple is now planning to open many new retail locations in Brazil. These stores will be Apple's first locations in South America and the company already began production of the iPad and iPhone there.
Tim Cook also made recent statements, saying that Brazil is Apple's next big target after China.
Apple will most likely do its best to acquire to exclusive rights for the name. This could involve lawsuits and out of court settlements. However, it seems likely a lawsuit will not be necessary considering that IGB appears to be ready to negotiate with the electronics giant.
