Kodak allowed to auction patents, despite Apple claims
Bankruptcy court slates auction of the Kodak digital imaging patents for August
IDG News Service - Eastman Kodak said on Monday that it has received approval from bankruptcy court to go ahead with the auction of its digital imaging patent portfolios, despite claims to some of those patents by Apple and FlashPoint Technologies.
The court granted Kodak the right to sell these patents "free and clear" of the two companies' claims at the auction, subject to the applicable provisions of the U.S. Bankruptcy Code, Kodak said in a statement.
Kodak will however have to provide "adequate protection" for Apple and FlashPoint if the patent sale is closed before the dispute between Kodak and the two companies is resolved, it said.
The bankruptcy court has also authorized Kodak to alternatively sell the patents subject to Apple and FlashPoint's claims, if mutually agreed between Kodak and the winning bidder, Kodak said.
The papers were not immediately available on the court website. While proposing the auction to the court in a filing in June, Kodak said the sellers propose to sell all or any portion of the digital imaging patents to successful bidders free and clear of all claims and interests, to maximize their value. Holders of claims and interests, if any, will be sufficiently protected by the availability of the proceeds of the sale, Kodak said in that filing.
Kodak, which filed for bankruptcy in January, filed last month a motion before the U.S. Bankruptcy Court for the Southern District of New York, seeking court approval for confidential bidding for the auction that it expects will be held in early August. The patents are to be auctioned in two separate portfolios called the Digital Capture and Kodak Imaging Systems and Services (KISS) portfolios.
Apple has in bankruptcy proceedings claimed 10 of the patents in the Digital Capture portfolio citing its invention of the patents, and claims arising from joint development work and a contract between Kodak and Apple.
FlashPoint, an intellectual property company, holds that a 1996 agreement between Apple and FlashPoint assigned Apple's rights in the claimed Kodak patents to FlashPoint.
Kodak filed a complaint last month against both companies, charging them with derailing the sale of its patents relating to digital imaging. It asked the court for an injunction barring Apple and FlashPoint from asserting ownership claims under any theory, including inventorship, to the Kodak patents, as their public campaign could create uncertainty as to the ownership of the claimed Kodak patents.
The company said Monday it will still seek dismissal of the "baseless" claims by Apple and FlashPoint this month.
- Hadoop for Dummies Today, organizations in every industry are being showered with imposing quantities of new information. Along with traditional sources, many more data channels and...
- The Top Five Ways to Get Started with Big Data Despite the increased focus on big data over the past few years, most organizations are still talking about what big data is rather...
- Data Warehouse Augmentation: The Queryable Data Store While organizations have, to date, been busy exploring and experimenting, they are now beginning to focus on using big data technologies to solve...
- The IBM Big Data Platform IBM is unique in having developed an enterprise class big data platform that allows you to address the full spectrum of big data...
- Live Webcast Best Practices: How to Improve Business Continuity with Virtualization VMware solutions include a range of business continuity capabilities to help ensure availability for applications across your virtualized environment. Learn More>>
- Cloud Knowledge Vault Learn how your organization can benefit from the scalability, flexibility, and performance that the cloud offers through the short videos and other resources...
- Endpoint Data Management: Protecting the Perimeter of the Internet of Things Not surprisingly, "Internet of Things" (IoT) and Big Data present new challenges AND opportunities for enterprise IT. Teams need to harness, secure and... All Data Center White Papers | Webcasts