Kodak sells some of its patents for 10 million

Eastman Kodak is transferring rights to some of its patents to the Canadian corporation IMAX. The exact value of the deal between the companies is unknown, but analysts estimate it to be between $10 and $50 million.

The sale of some of the patents stems from Kodak's business problems, which are currently on the brink of bankruptcy and facing serious financial shortages. Several weeks ago, reports first surfaced that Kodak was prepared to sell part of its patent portfolio to raise funds and address the company's global problems.

In addition to the one-time payment, IMAX will make regular royalties to Kodak. The agreement is for 10 years.