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Kodak Files for Bankruptcy Protection

Despite numerous efforts throughout the last decade, Kodak still hasn't been able to turn its business around. The once mighty imaging company has been on a downwards trend for a long time and now, in 2012, things reached critical levels as it decided to file petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York.

According to Kodak, this move will enable it to 'bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities' and will allow it to 'focus on its most valuable business lines'.

Kodak and Sony settle digital camera patent lawsuits by cross-licensing each other's technology

Kodak sued Sony back in 2004, claiming that Sony had infringed on it's patents on digital camera technology. Since then, Kodak and Sony have been counter suing for the control of 10 patents. Sony and Kodak have officially settled by starting a cross licensing agreement, so that both companies have the rights to use the same technology.Source: The Register
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