For those of you who didn’t know Kodak is in some serious trouble right now. The 120-year-old photography company has filed for a chapter 11 business reorganization and bankruptcy protection. This essentially means that Kodak will be submitting a plan of reorganization to the bankruptcy courts, which will include how the company plans to repay its corporate debt. Apparently Kodak plans to restructure around printers and printing equipment.
In order to help relieve the debt Kodak is in the company has also been trying to sell off its multi-billion-dollar patent portfolio. Among one of the most important patents Kodak has in its possession is a method for live view display, states AppleInsider. It has been trying to use this patent against both RIM and Apple, but today the ITC has ruled both companies are not infringing this patent.
The trade body’s six commissioners agreed with a recent decision from an ITC Administrative Law Judge who in May concluded the patent to be invalid. Kodak first asserted U.S. Patent No. 6,292,218 for “Method for Live View Display and Digital Camera Using Same” against Apple and the BlackBerry maker in 2010 as devices from both companies allegedly used “live view” technology purportedly covered by the ’281 invention.
Kodak must now either hope the court allows for appeal, or that its other patents will be able to generate enough money to bring Kodak out of debt. This is of course good news for Apple though because if the fruit company lost this case there could have been billions of dollars in licensing fees owed to Kodak.