Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke AG    BMW   DE0005190003

Real-time Quote. Real-time Tradegate - 06/24 10:03:59 pm
68.147 EUR   -8.22%
06:01p Factbox - Business reaction to Britain's decision to leave the EU
05:35p BAYERISCHE MOTO : 50 Seattle rape, sex-abuse cases stalled for years..
03:44p BAYERISCHE MOTO : Henkel launches range of new Teroson LASD products..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Tesla resolves trademark dispute in China

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/06/2014 | 05:30am CEST

U.S. electric carmaker Tesla Motors Inc (>> Tesla Motors Inc) said it has "completely and amicably" resolved a trademark dispute in China, removing a hurdle that had threatened CEO Elon Musk's ambition to expand rapidly in the world's biggest auto market.

U.S. electric carmaker Tesla Motors Inc (>> Tesla Motors Inc) said it has "completely and amicably" resolved a trademark dispute in China, removing a hurdle that had threatened CEO Elon Musk's ambition to expand rapidly in the world's biggest auto market.

It is the second time Tesla has announced an end to the dispute with Chinese businessman Zhan Baosheng, who registered the "Tesla" trademark before the Palo Alto, California-based carmaker came to China.

Tesla said in January that the issue had been resolved, but last month, Zhan moved to bring Tesla to court.

A complete solution to the long-standing trademark dispute would remove an obstacle to Tesla's growth plan in China, which billionaire co-founder Musk expects to become the company's biggest global market next year.

Beijing has unveiled a slew of incentives, including purchase subsidies and tax cuts, to accelerate sales of electric cars, a market also targeted by Volkswagen (>> Volkswagen AG) and BMW (>> Bayerische Motoren Werke AG).

"Mr. Zhan has agreed to have the Chinese authorities complete the process of canceling the Tesla trademarks that he had registered or applied for, at no cost to Tesla," Tesla said in an e-mailed statement on Wednesday.

Separately, Tesla and Zhan have also reached commercial terms for the transfer to Tesla of certain domain names, including tesla.cn and teslamotors.cn, the company said, declining to give financial details.

"Tesla looks forward to continuing to grow its business in China and to expanding the impact of electric vehicles in this very important market," Tesla said in the statement.

Tesla's trademark dispute underscores a thorny issue faced by foreign companies doing business in China. Global companies like Apple Inc (>> Apple Inc.), Koninklijke Philips NV (>> PHILIPS) and Unilever NV (>> UNILEVER), have all been embroiled in trademark disputes in the country in the past.

Based in China's southern province of Guangdong, Zhan registered the trademarks to the Tesla name in both English and Chinese in 2006. He had in the past sought to sell the label to the U.S. company but negotiations collapsed.

"Tesla has successfully concluded an agreement with Mr. Zhan Baosheng to completely and amicably resolve the dispute between the parties," Tesla said in Wednesday's statement. "These actions remove any doubt with respect to Tesla's undisputed rights to its trademarks in China."

(Editing by Matt Driskill)

By Samuel Shen and Norihiko Shirouzu

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on BAYERISCHE MOTOREN WERKE A
06:01p Factbox - Business reaction to Britain's decision to leave the EU
05:35p BAYERISCHE MOTOREN WERKE : 50 Seattle rape, sex-abuse cases stalled for years on..
03:44p BAYERISCHE MOTOREN WERKE : Henkel launches range of new Teroson LASD products of..
03:06p BAYERISCHE MOTOREN WERKE : Dallas, Texas, Woman Faces up to Twenty Years in Fede..
02:14p Business reaction to Britain's decision to leave the EU
02:14p BAYERISCHE MOTOREN WERKE : Henkel launches range of new Teroson liquid-applied s..
02:04pDJBAYERISCHE MOTOREN WERKE : Brexit Decision to Hit German Economy Hard, Say Busin..
12:20pDJBAYERISCHE MOTOREN WERKE : Companies Scramble to Assess Vote's Impact
10:07a BAYERISCHE MOTOREN WERKE : BMW Group declines to speculate on long-term Brexit i..
09:00aDJBMW : Don't See Immediate Effect on Our UK Operations From Brexit Vote
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials