In order to sell securities to the public in the USA, including some crypto assets, you either need to register your securities with the sec and issue a prospectus or you can only sell to accredited investors.
I have not looked at overstock or kodak but Id venture to say that since they are large companies they spent the $500k or so to register their securities
And what would be the process and requirements to the company and tokens?
Most of the ICOs try to classify themselves as utility tokens and seek exemption from SEC registration requirements. But SEC recently banned an ICO from Munchees, even though Munchees treated their token (MUN) as utility and not as security.
If your token is really a token (and not disguised as token instead of securities), you are exempt from SEC requirements.
What's the difference between tokens and securities?
Well ideally, securities are equity interest in an enterprise. Or in other words shares of a company. By holding these securities you expect to gain from the gains of the company (in the form of dividends-mostly). Think of it as being a partner in the company.
On the other hand, a token can just be a means of exchange. So for example - sports cards that are exchanged by teenagers are sort of tokens. The cards themselves dont hold any intrinsic value except that the holder values them. By exchanging these cards you don't really participate in a company's performance.
What a lot of ICOs do is this - they put an entry barrier to their system and argue that you need to use these "sports cards(tokens)" to use their services. At least that's how they try to structure it legally and there is nothing wrong with it.
I am not sure if this explanation helps. I tried to be non-technical.