Apple and Google Joining Forces On Kodak Patents Bid

Posted by Soulskill on Saturday December 8, 2012 @03:29AM from the my-enemy-my-ally dept.

TrueSatan writes "Bloomberg reports that Apple and Google have partnered to make a bid of more than $500 million for the Kodak patent portfolio. The bid relates to Kodak's 1,100 imaging patents. 'Kodak obtained commitments for $830 million exit financing last month, contingent on its sale of the digital imaging patents for at least $500 million.' This is likely to be an opening bid, with the final figure being far larger. By comparison, a group including Apple, Microsoft, and RIM bought Nortel's 6000+ patents for $4.5 billion last year. 'Google lost the auction for those patents after making an initial offer of $900 million.'"

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Imagine by Seeteufel · 2012-12-08 04:08 · Score: 4, Interesting

Imagine an investment of 500 Million into Libreoffice development. Imagine 50 Million for Wine. That would make a real difference. The patent system is like a parasitarian economy created on top of the markets. It should be abolished. But we won't get 5 million $ for patent reformists.