Eastman Kodak Company announced that it has entered into a
technology cross-license agreement with LG Electronics, Inc., which will allow
each company broad access to the other’s patent portfolio.
The license agreement, which provides significant benefits to both
companies, is royalty-bearing to Kodak. Additional financial details were not
disclosed.
“We are pleased to have reached a mutually beneficial arrangement that
advances the interests of Kodak and LG and validates the strength of Kodak’s
intellectual property portfolio,” said Laura G. Quatela, Chief Intellectual
Property Officer, and Vice President, Eastman Kodak Company.
The companies also agreed to conclude their patent litigation, which
involved a subset of their imaging technologies. Pursuant to a settlement
agreement, Kodak and LG will request that the U.S. International Trade
Commission terminate the investigations initiated earlier this year following
complaints filed by both companies in late 2008.
