Sony and Kodak end patent fights with a licensing deal

Eastman Kodak Co. has said in a statement that they have signed on a licensing deal with Sony to settle the dispute over digital camera and imaging technology patents.

This deal would give both the companies right to use patents of each other.

Interestingly, Kodak already has signed a similar deal with Sony Ericsson Mobile Communications AB.

The financial details of this deal have not been revealed to the media. Kodak however said that the agreements were royalty-bearing to Kodak. Sony added that this deal would not affect its previously announced earnings forecast.

These two companies have filed several lawsuits against each other in the past over patent disputes. This deal would nullify all those legal hassles for both Kodak and Sony.

Kodak and Sony are dominating players in the digital camera market and these patents can come really handy while developing new products without worrying for lawsuits.