(Yicai Global) Oct. 17 -- After eight years of litigation, US basketball star Michael Jordan has lost a trademark dispute in China with Qiaodan Sports, clearing the way for the sporting outfitter's initial pubic offering.
The Supreme People's Court delivered its final judgment yesterday, stating that the company's trademarks do not constitute an infringement of the NBA icon's rights, Beijing News reported. It has a series of trademarks, including 'Qiaodan,' 'QIAODAN' and 'Qiaodan Sports.'
The company submitted a draft prospectus for an IPO to the China Securities Regulatory Commission on Nov. 21, 2011, with a plan to list on the Shanghai Stock Exchange and raise about CNY1.1 billion (USD150.5 million). It passed the review process on Nov. 25. But the firm failed to gain approval for the listing because of the litigation.
Jordan, a former Chicago Bulls player, sued Qiaodan Sports in 2012, alleging infringement of his personal name rights and requested the court to revoke many of its trademarks. He filed another administrative litigation after China's Trademark Review and Adjudication Board rejected his application. A long lawsuit followed.
The CSRC said in 2014 that after relevant restrictions are removed, follow-up work regarding the IPO can start.
Set up in Jinjiang in southeast Fujian province in 2000, Qiaodan Sports focuses on the design, research, development, production and sales of athletic shoes, sportswear and accessories.