Apple has won the long battle for the right to trade under the iPad name in China, by paying a whopping $60million to gain control of the trademark.
The firm have been embroiled in a protracted legal tussle with Proview Technology, a Chinese electronics company who claimed to own the rights to the name.
Proview Technology had previously registered the iPad name in ten Far East countries, including China, and Apple bought these rights from Proview's Taiwanese affiliates in 2009 for $55,000.
However, Proview then claimed that their Taiwanese associates had no right to sell the naming rights on, and therefore accused Apple of copyright infringement in October 2010.
Some regions began pulling iPads from the shelves, and Proview even tried to get a ban on the devices being sold in Shanghai, although this was thrown out by the courts.
Apple won the first round of legal battles against Proview in Hong Kong, but the mainland courts sided with Proview. This prompted Apple to appeal, and the courts urged the two parties to reach an settlement out of court, which has seemingly now been agreed.
Earlier today, the Guangdong High People's Court said in a statement: "The iPad dispute resolution is ended. Apple has transferred $60m to the account of the Guangdong High Court as requested in the mediation letter."
Proview layers have also confirmed the deal to the BBC, and said that both parties were satisfied with the settlement.
This is a major breakthrough for Apple as they look to take control of the important Chinese market. Previously, Apple had been concerned about losing vital chunks of the market share to competitors as the legal dispute rumbled on, but Apple are now free to trade under the iPad name in China without distraction, so expect to see impressive iPad sales figures in the region in the near future.