Engagements

Valuation of Kodak’s digital imaging patent portfolio in advance of bankruptcy auction

A CRA expert was retained by a leading investment bank that had a position in Kodak’s debt to conduct a valuation of Kodak’s Digital Imaging patent portfolio in advance of an auction of the portfolio in bankruptcy proceedings. The Digital Imaging patents were identified from Kodak’s patent portfolio and an analysis of publicly available information was used to determine the extent of encumbrances on the portfolio. Market and Income approaches were used, based on prior settlements and licenses of the portfolio, to estimate the present value range of licensing the unlicensed part of applicable markets under various scenarios. Valuation range results were in line with the ultimate auction sale price of the portfolio.