Kodak, the once great but now bankrupt camera giant, has stated that a U.S. bankruptcy court has approved its bid to auction off the bundle of patents it has despite efforts by the likes of Apple to derail the sale by claiming that it has rights over some of them.
“The Apple and FlashPoint claims are baseless and Kodak will still seek dismissal on summary judgment in July. Today’s ruling provides a court-approved process allowing buyers to acquire the patents free and clear of all ownership allegations, regardless of the status of the dispute with Apple and FlashPoint at the time of closing,” said Timothy Lynch, Kodak Vice President and Chief IP Officer.
Kodak filed for bankruptcy some time ago, and is hoping that a patent sale will generate a significant amount of cash. It has nearly 700 patents related to image capture, processing and transmission technologies for digital cameras and smartphones, and some other 400 patents related to image analysis and manipulation tools.
Kodak’s business was largely disrupted first by digital cameras and then smartphones, as it failed to keep up with the times.
The patent auction will close next month, and should provide enough ammo for the next round of battles in the ongoing patent wars. We expect the auctions to see interest from major technology companies, including Microsoft, Apple, Google and others.