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Eastman Kodak settles patent lawsuit



16 May 2008 @ 08:38 am EST

ROCHESTER, N.Y. (AP) - Imaging products company Eastman Kodak Co. said Friday it settled a patent dispute with St. Clair Intellectual Property Consultants Inc.

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Under the terms of the settlement, Kodak said it assigned its rights in the patents in dispute to St. Clair and stipulated that St. Clair is the owner of the patents.

St. Clair, meanwhile, granted Kodak a full release and a license to the patents and committed to granting licenses to two other companies of Kodak's choice.

Eastman Kodak shares fell 14 cents to $17.20 in electronic premarket trading. The shares closed at $17.34 on Thursday.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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