If you were to think about camera film or having your photos developed at the local pharmacy then you would immediately recall the brand name Kodak. And how could you not? It’s synonymous with traditional camera film and disposable cameras.
However, if you were also to give thought to a brand which you haven’t heard in quite some time and one which you considered to be dead and buried, then it would also be Kodak. And who could blame you? With high quality modern products like the ones on the Groupon Coupons page for Canon available at affordable prices, it was only a matter of time before the world moved on to other products outside of the Kodak brand.
But, if you thought that Kodak was sitting by in the quiet waiting for bankruptcy to take over then you are in for a great read with the article below.
Being the early front runner in camera technology gave Kodak a very strong head start in the world of consumer photography. In particular, how to refine and present the best image. Alongside consumer film, Kodak invested heavily in developing a number of digital photography and imaging techniques which, as you can imagine, all have a connected patent, helping to build Kodak quite a patent portfolio.
While the size of this portfolio can’t be compared to the likes of Apple or Google, it’s the power of these patents which truly set Kodak up for the future. For example, if you are browsing the web and see an image, the chances are that one, if not many, of the technologies used to compress, transfer, and display that image are owned by Kodak.
In fact, they are likely to be one of Kodak’s many 1,100 patents which Kodak recently sold for the hefty sum of $525 to help bring itself out of bankruptcy proceedings. Who the sale was to is sealed, however, it’s fair to assume that it was likely purchased by a consortium, given the large amount.
While that number can seem impressive, it’s important to remember that Kodak, as a company was once valued at over $2 billion. However, with such a rapid decline in its market share, it was a simply a matter of taking what it could get to cover the costs and debts that it had accumulated.
When it comes to how a consumer will be affected by the sale of these patents, the impacts aren’t likely to be too great. After all. Whoever purchased these patents will both incorporate these patents into their own products along with continuing to license them to vendors, effectively continuing the cycle as it stands with minimal to no impact on consumers.
However, its impacts on the world are far greater and will be felt much deeper as a once titan of industry falls to newer companies who were more easily able to adapt to changing environments and leverage their position to come out ahead.