Kodak hopes the auction proceeds will surpass the $2.6 billion estimated auction value of the patents and provide it enough money to pay off it creditors and allow it to be released from bankruptcy (which it entered into earlier this year). Early indications are that a bidding war may be brewing with Apple and Microsoft teamed with patent purchaser Intellectual Venture Management pitted against Google, patent purchaser RPX Corp., Samsung, LG Electronics, and HTC (the cell phone manufacturer).
Kodak hopes the opposing groups will enter into a bidding war as was the case last year when the same groups fought over Nortel Networks patents which finally sold (to the Apple/Microsoft group) for over $4.2 billion - and were not of the scope or importance of the Kodak patents. Unfortunately, for Kodak, last week the U.S. International Trade Commission invalidated one of Kodak's most valuable patents - the one governing how images are previewed by a digital camera.
Even with the ITC's determination, however, Kodak's patent portfolio is substancial and provides holders the potential to block competitors from releasing new products - particularly smartphones and tablets.
We wish Kodak the best come Monday.
I'd like to have your thoughts.
Best and Happy Movie Going!
Jim Lavorato
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