Tesla Motors Inc (TSLA) settles trademark issue with Zhan Baosheng
Tesla Motors Inc (NASDAQ:TSLA) has been dealing with a trademark dispute in China for a few years now. The issue has now been settled. Zhan Baosheng registered the “Tesla” trademark several years before Tesla Motors entered the country.
Zhan ended up suing Tesla Motors for infringement as it prepared to enter China. Tesla said that Zhan agreed to let the Chinese government cancel his trademarks at no cost to the company. Tesla Motors withdrew claims for compensation from Zhan as well.
Both parties have found a way to amicably resolve the dispute, but the terms were not disclosed.