BANKRUPT IMAGING PIONEER Eastman Kodak has got the approval it needs to sell off its Digital Capture and Kodak Imaging Systems and Services (KISS) patent portfolios.
The firm asked for permission for the auction earlier, and today it said that despite reservations from some quarters, it was glad to have the bankruptcy court's approval.
It said opposition came from Apple and Flashpoint Technologies, firms that are described as having asserted some "ownership interests" in some of the patents. The bankruptcy court to which Kodak petitioned was not interested in this, and gave the company the nod it needed to cash in on all that intellectual property booty it has.
"We are gratified that the Court has enabled us to move ahead with our patent auction in a timely manner and with clarity on ownership for the winning buyer," said Timothy Lynch, Kodak VP and chief intellectual property officer.
"The Apple and FlashPoint claims are baseless and Kodak will still seek dismissal on summary judgment in July. However, 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."
Kodak expects to hold the auction in August. µ