Kodak delays patent sale
Posted at: 09/14/2012 11:57 AM | Updated at: 09/14/2012 11:31 PM
Kodak has postponed it's patent auction indefinitely.
In a court filing today, the company says it won't keep rescheduling the auction, even as negotiations continue.
Kodak says it will also consider other alternatives, including keeping the patents.
Brighton Securities President George Conboy says those patents could end up losing their value over time.
He says, "The patents do not appear to still have value, however, with technology patents, technology is a wasting asset. Everyday that goes by, those patents get less and less value as new technology takes the place of existing technology."
Kodak hoped to use the cash from it's patent sale to keep operating while undergoing bankruptcy restructuring.