Kodak Hopes $525M Patent Sale Will Pave Path Out Of Ch. 11

Law360, New York (December 19, 2012, 1:52 PM EST) -- Eastman Kodak Co. announced Wednesday it had sold its portfolio of digital imaging patents for $525 million, a move officials touted as key to the company's emergence out of Chapter 11 bankruptcy.

Under the terms of the agreements, Kodak will license its patents to a consortium organized by Intellectual Ventures and RPX Corp. Kodak said the sale of its patents unlocks a key source of financing to complete the company's organizational restructuring.

Kodak at one time said its hefty digital patent portfolio, which includes 1,100 patents,...
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