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In order to restructure the company, Eastman Kodak Co has decided to sell its digital imaging patents. They have even got permission from a U. S. judge, but two companies have been posing problems.
Apple Inc and FlashPoint Technology Inc. were of the view that the court should not give them go ahead, as they also have some portion of ownership in the company. If to believe in the words of both the companies then they have ownership in 1,000 patents.
If the move goes as per plans the plans of Kodak, then the company will be able to generate more than $3 billion. Kodak said that they are expecting the auction to take place by August and also revealed that they have filed case against Apple, as they have been claiming patents on such work, which is absolutely wrong.
"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, who is the vice-president of Kodak.
Kodak has decided that after the process of auction, they will reestablish them in the business of printing. It has to be seen that how much time things will take to wrap up.