Kodak Receives Approval to Sell Its Digital Patents
Bankruptcy Judge Allan Gropper granted bankrupt Eastman Kodak Co. approval to auction its digital imaging patents as part of its restructuring, Reuters reported yesterday. Apple Inc. and privately held FlashPoint Technology Inc. had objected to the sale, both claiming that they had ownership in some of the more than 1,100 patents. Kodak is seeking to sell the patents and focus its business on printing. The patents are part of Kodak's digital-capture portfolio for devices such as digital cameras, smartphones, and tablets. The portfolio has generated more than $3 billion in revenues since 2001. In June, Kodak sued Apple in the bankruptcy court, alleging that Apple wrongly claimed to own 10 patents arising from work the companies did together in the early 1990s. Kodak said that it expected to auction the patents in early August.