Tim Cook 'settled Apple's $60m trademark payoff from his own pocket'

Proview CEO draws controversial conclusion over iPad trademark pay-out

Earlier this month Apple reportedly paid $60m to the Chinese company Proview to settle a legal dispute over use of the iPad trademark. And Proview's CEO has suggested controversially that Apple boss Tim Cook cracked open his own wallet to find the money.

Yang Rongshan's conclusions, as reported in IT Times Chinese language, relate to Cook's decision in May to turn down potential share dividend earnings of $75m, a figure that he says is ""very close with the compensation Apple would pay for Proview".

Proview legal representative Ray Mai backed up his CEO (as well as chairman and company founder), arguing that the Proview case had been mishandled by Apple management, and that it was only right that the financial penalty should fall on management rather than shareholders.

"Since Steve Jobs was gone, Cook should take up the responsibility," said Mai.

Apple's behaviour when securing the iPad trademark from Proview was a little unorthodox: it bought the rights through a European proxy. Nevertheless, Yang Rongshan's theory seems a little tenuous.

This isn't the first time an Apple boss has turned down earnings to which he is entitled, of course; Steve Jobs worked for nothing while acting as interim CEO when he came back to the company in 1997, before raising his financial expectations to include a jet.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

David Price

Macworld U.K.
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?