To settle a legal dispute over patent licenses and royalties, Ricoh of Japan will pay Eastman Kodak about $76 million, the Rochester Democrat and Chronicle reports.
Kodak sued Ricoh in April 2012, “claiming Ricoh was stiffing it on royalty payments due from its use of Kodak patents,” the paper says. “Among its claims were that once Ricoh bought camera maker Pentax Imaging Systems in 2011, it owed back royalties since Pentax had never signed any digital imaging licensing agreement with Kodak.”
Ricoh argued it had paid Kodak patent license agreement, and Pentax never infringed on Kodak’s patents. The case went to trial this week in U.S. District Court for the Southern District of New York, with a jury ruling for Kodak, according to the news story.