Apple has been long-rumoured to be developing a smartwatch, with reports suggesting 100 designers have been put to work bringing the concept to life. The trademark application is the latest hint about the company's future plans for 'wearable' technology.

As well as displaying time, smartwatches offer wearers features such as social network notifications, email alerts and basic GPS and navigational information. They hook up with smartphones via bluetooth and wireless, and also display incoming call and message details. 

Although major tech companies such as Sony already offer smartwatches, perhaps the most successful to date has been the Pebble. Supporting Android and iOS phones, the 'e-paper watch' was part funded through crowdfunding. The company raised over €7.5 million from nearly 70,000 individual backers (early adopters receiving the watch at a lower price) through their Kickstarter campaign in early 2012.

Apple will likely be looking to secure the rights to the name 'iWatch' following the various international legal challenges they have faced as a result of their recognisable product names. In Mexico, for example, a judge granted a company called iFone exclusive rights to the use of the term iPhone after Apple attempted to gain the rights for themselves. The decision was upheld by the Mexican Supreme Court earlier this year.

Apple has also faced expensive legal challenges to their product names in Brazil and China. In the latter case, they paid around €45 million to Proview Technology to settle a protracted dispute over the use of the name 'iPad'.