Tesla Settles Chinese Trademark Lawsuit
Earlier this year, Tesla was involved in a trademark dispute in China that threatened the company's plans to further enter the country's auto market. Zhan Baosheng, the man responsible for registering rights to the company's name, will settle the dispute outside of court. According to a statement by Tesla, Baosheng will settle "completely and amicably." He will also transfer all websites registered in China that use the company's name, including tesla.cn and teslamotors.cn. However, Tesla isn't the only company who has had issues with trademarks when entering into Chinese markets. Companies like Apple and Burberry Group Plc fought over branding rights. Tesla spokeswoman Liz Jarvis-Shean offered up no comments on the financial implications of the domain name transfers, but the company did say, "Mr. Zhan has agreed to have the Chinese authorities complete the process of cancelling the Tesla trademarks that he had registered or applied for, at no cost to Tesla. Collectively, these actions remove any doubt with respect to Tesla's undisputed rights to its trademarks in China." Already, Tesla CEO Elon Musk is hopeful that sales volume in China will match that in the U.S. by the end of 2015. Direct sales for the Model S in China began back in April, and already the company is planning to increase production. Source: Bloomberg
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