Kodak Patent Auction Permitted Despite Apple Complaint

Posted July 3, 2012 at 3:34pm by iClarified | Please help us and submit a translation by clicking here | 3534 views

A US bankruptcy court has approved Kodak's bid to auction off more than 1,100 patents despite objections by Apple and FlashPoint, reports AFP.

"The Apple and FlashPoint claims are baseless and Kodak will still seek dismissal on summary judgment in July," Timothy Lynch, Kodak Vice President and Chief Intellectual Property Officer, said.

"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."

Last month, the company accused Apple of using its cash to interfere with the sale.

"Apple's strategy has been to use its substantial cash position to delay as long as possible the payment of royalties to Kodak" and interfere with the sale, Kodak said. "Apple and FlashPoint are seeking to benefit from Kodak's difficult financial position, which will be exacerbated if the debtors cannot obtain fair value for the patents."

Kodak says buyers will submit confidential bids for the auction which will be held early next month.

Read More [via AppleInsider]


Share
Add Comment
Samsung=Shiite - July 4, 2012 at 5:42pm
That means google and samshit will get their hands on these patents
Follow iClarified
FCC Chairman Voices Concerns Over Verizon's Plan to Throttle Unlimited 4G LTE Customers
Facebook Pages Manager App Now Lets You See Star Ratings and Reviews on Your Page
How to Stream Movie and Video Torrents to the Apple TV Using TorrenTV
These are instructions on how to stream movie...
Apple Releases MacBook Air EFI Firmware Update 2.9.1
Apple has released MacBook Air EFI Firmware U...
Next-Generation Apple TV Delayed Until 2015?
Apple's plans for an overhauled Apple TV migh...