We've written about the ridiculousness of the ongoing auction
over Kodak's patents -- the final sad legacy
for the once giant company. However, it's getting even more ridiculous. On Monday, a bankruptcy court judge approved about $6 million in "performance" bonuses for execs
, including some that are based on how much the company gets from these auctions. Think about the ridiculous incentive structure here. You have executives who are running a bankrupt
company, who are set to make millions (in a court approved manner), for handing off the company's patents to trolls, so they can go out and sue the actual innovators.
The execs make out like bandits. The buyers likely make out like bandits after shaking down some companies. The lawyers (of course) make out like bandits. And... who gets screwed? Oh yeah, the companies who are actually innovating successfully
in the market and the public (who we thought the patent system was supposed to benefit).