In a very ironic turn of events, Kodak would have been barred from selling its patent portfolio if it hadn't essentially gone bankrupt a while ago.
The company managed to secure some funding for a business reorganization, but it still needs cash, so it is preparing a big IP auction.
About 1,000 patents will be put up for sale to the highest bidder. The problem is that Apple believes it owns, or partially owns, ten of them. FlashPoint believes the same.Kodak tried to get the U.S. Bankruptcy Court in Manhattan to dismiss Apple's claim, but the court denied the motion.
It did offer a sort of middle ground though: Kodak will be allowed to go forward with the auction and potentially pass the matter over to the buyers.
That is to say, the ones who buy the patents might later have to pay Apple for their use, if the court eventually rules in the latter's favor.
This definitely can't be doing good things to Kodak's chances to sell, but at least the number of disputed patents is low compared to the total.
"The burden is squarely on Apple to show that they have a viable claim." said Sullivan & Cromwell LLP's Brian D. Glueckstein, a Kodak lawyer.
Kodak's technologies that will go up for sale are worth over $2 billion. One of the patents Apple claims to own is for a digital camera that can capture an image while a preview appears on an LCD screen.
"The court outlined a path to ensure Apple and FlashPoint's claims will not delay a sale," said Kodak spokesman Jeremy Fielding.
"The court also outlined a path to proceed quickly with an adversary proceeding on an expedited basis in bankruptcy court and elicited assurances from Apple and FlashPoint that they will not seek to prevent this."
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