Here are your Apple rumors and AAPL news items for Tuesday:

Apple Sued for Rights to iPad Name: Taiwan-based Proview Electronics is bringing suit against Apple (NASDAQ:AAPL) to reclaim worldwide rights to the iPad name, according to the Washington Post. The Taiwan-based LED manufacturer is citing claims of fraud and unfair competition, and seeks a broad range of legal compensation — including a large share of Apple’s profits and the retroactive voiding of the trademark sale, followed by immediate cessation of marketing the product under its current name. While Apple has released little comment, Proview is making aggressive claims that it owns the right to the iPad trademark within mainland China. Legal proceedings have been consistently postponed; a Shanghai court recently rejected Proview’s claims, but the Guandang High Court is set to convene this upcoming Wednesday. Proview’s litigators are optimistic that the ruling may be favorable, but Apple maintains that Proview failed to honor the stated terms of their 2009 transference agreement.

ShopAdvisor Now Available for iPad: ShopAdvisor, an online shopping utility, has just been licensed for the iPad, according to WebProNews. Originally available on the iPhone, ShopAdvisor was named “Best of iPhone Utilities” in the 2011 App Store Rewind and is widely popular with consumers. According to the Internet Advertising Bureau, nearly 75% of all tablet owners make weekly purchases through their device. ShopAdvisor has designed new features unique to the iPad, including magazine-style navigation, price history tracking, and improved product cataloging.

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iPad 3 May Feature Enhanced Processors, Retail Higher: According to RedOrbit, a leaked Chinese pricing sheet suggests that the iPad 3 may retail at $70-$80 higher than its predecessor. However, a separate release suggested that Apple may be working on an enhanced A5X dual-core chip for the tablet, and is even developing a quad-core A6 chip. Evidence for ongoing renovation of the iPad’s logic board is growing, and suggests a pending leap in processing power.

Adam Patterson is Assistant Editor of InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities. For more from the company, check out our previous Apple Rumors stories.