Herndon, VA (PRWEB) September 17, 2013
The Honorable Allan L. Gropper, Bankruptcy Judge of the United States Bankruptcy Court for the Southern District of New York, has ordered Eastman Kodak Company to assign ownership of three patents and a patent license agreement to Global OLED Technology, LLC. This effectively ends the lawsuit (Case No. 1:12-bk-10202 – S.D.N.Y.) that GOT filed against Kodak in December 2012.
Pursuant to Bankruptcy Rule 9019 of the Bankruptcy Code, the Court approved a settlement between GOT and Kodak which transfers ownership of United States Patent Nos. 6,717,560, 6,892,014 and 6,999,138 to GOT. Pursuant to the Court’s Order, GOT will be assigned Kodak’s September 1995 organic light-emitting diode (OLED) patent license agreement with Pioneer Electronic Corporation, including all rights to receive royalty payments from Pioneer under the license.
“We are extremely pleased with the outcome of the lawsuit. This reinforces our commitment to aggressively defend GOT’s rights and assets in the OLED area,” said Daniel Carlineo, Esq., President and CEO of GOT. “In the past two years, GOT has taken the right steps to become an influential player in the OLED industry.”
GOT was represented by attorneys from the New York and Dallas offices of McKool Smith, P.C.
About Global OLED Technology LLC
GOT (http://www.globaloledtech.com) is a leading owner and licensor of a portfolio containing over 2,400 OLED patents and patent applications worldwide. The technologies claimed in those patents have many applications in the display and lighting industries. GOT’s patent portfolio encompasses a heritage of innovation that began in the early 1980s when pioneering OLED intellectual property was created at Eastman Kodak Company’s research and development labs.
For more information, contact:
Benjamin E. Fuller, Esq.