Kodak files motion to auction digital imaging patents

Kodak files motion to auction digital imaging patents Eastman Kodak has sought permission to auction off more than 1,100 of its patents in an effort to save the firm. The motion was filed with the US Bankruptcy Court for the Southern District of New York. One portfolio will include about 700 patents covering image capture, processing and transmission technologies for digital cameras and other devices. Recent lawsuits have driven up patent prices, but a ruling last month against one of Kodak's key innovations may cause uncertainty about its portfolio. Kodak said it had generated more than $3bn (£1. "The bidding procedures are designed to allow bidders to give us their best offers without fear of showing their cards to competitors," said the firm's chief intellectual property officer, Timothy Lynch. The firm said it hoped to announce the winning bidder by 13 August. Kodak, which now specialises in printing equipment, said that 20 parties had already shown interest in the sale. The other batch will include tools for image manipulation, tagging and network-based services. Samsung and LG had already paid $964m to use the technology and Kodak was attempting to force Apple and Research In Motion to follow. Kodak said that it intended to appeal against the decision. "In filing these proposed procedures in advance of the June 30 deadline in our lending agreement, we are moving ahead in a timely manner with the process of monetising our digital imaging patent portfolio. The Information Commissioner's Officer relaunches its investigation into how Google's Street View cars captured users' data. Kodak files motion to auction digital imaging patents Trade News selected by Local Linkup on 13/06/2012