As part of its bankruptcy proceedings, Eastman Kodak has put 1,100 patents on the block.

They are expected to be sold at auction on August 8.

There was reportedly a Monday deadline for initial bids according to what "people familiar with the matter" told the Wall Street Journal.

Apple, teamed with Microsoft and Nathan Myhrvold's Intellectual Ventures, and Google in company with RPX, Samsung, LG and HTC are believed to be after them for protection.

Apple and Google were on opposite sides in the great Nortel patent auction last year and Apple and Microsoft et al walked off with the IP for $4.5 billion, a victory the inflated the expectations of patent holders everywhere.

Kodak, which needs the money to emerge from bankruptcy as a viable company, is hoping to see $2.6 billion, which may prove absurd.

The Journal said the patents are being sold in two lots: "one portfolio related to capturing and processing images on cameras, smartphones and tablets; and another related to storing and analyzing images, among other things." The digital capture lot is regarded as the more valuable.

Because the value of the patents is dicey - the International Trade Commission just invalidated a key patent on how images are previewed by a digital camera - Kodak couldn't get a stalking horse bid that would establish a floor for the bidding.

• Google & Apple Reportedly Team on Kodak Patents Bid