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. 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. The motion was filed with the US Bankruptcy Court for the Southern District of New York. Kodak, which now specialises in printing equipment, said that 20 parties had already shown interest in the sale. Samsung and LG had already paid $964m to use the technology and Kodak was attempting to force Apple and Research In Motion to follow. The firm said it hoped to announce the winning bidder by 13 August. "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. Kodak said it had generated more than $3bn (£1. The other batch will incorporate tools for image manipulation, tagging and network-based services. Kodak said that it intended to appeal against the decision. One portfolio will incorporate about 700 patents covering image capture, processing and transmission technologies for digital cameras and other devices. "In filing these proposed procedures in advance of the June 30 deadline in our lending agreement, we are moving ahead as soon as possible 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