Struggling photography giant Kodak can sell 10 patents whose ownership has been disputed by Apple, a judge has ruled.
However, the judge also refused to deny Apple’s ownership claims of the patents and instructed Kodak to either notify prospective buyers that Apple could have a claim on the patents or put the proceeds in an escrow account, to be paid to Apple in the event of a successful legal action.
Kodak is currently undergoing bankruptcy measures and wishes to improve its financial state by selling a number of patents related to digital photography. However, Apple has claimed that it owns some of them.
The full portfolio of Kodak patents – numbering more than a thousand, of which 10 are disputed by Apple – may be worth in excess of US$2bn, according to Dow Jones Newswires, although Kodak states it hasn’t provided an estimate. If accurate, this valuation would represent a significant proportion of the US$6.75bn Kodak owed creditors at time of bankruptcy filing.
