The Kodak Sell-off

In December 2012, Eastman Kodak announced that a group of 12 tech companies, including Apple, Google and Facebook, joined forces to purchase approximately 1,100 digital imaging and processing patents from Kodak for $525 million. This amount was far short of their estimated worth of around $2.5 billion. But Kodak was weakened and in no position to negotiate, as it had licensed its patents to other companies, making them far less valuable.

While the sell-off by Kodak to its competitors may have appeared by many reminiscent of a pack of lions stalking, killing and ultimately feasting on the remains of an enormous fallen elephant, Antonio Perez held his position on the company’s strategy. In a statement he wrote, “This monetization of patents is another major milestone toward successful emergence” from bankruptcy.