Section 921 — Corporation Tax Act 2009: Licences connected with patents

Licences connected with patents 921 1 The acquisition of a licence in respect of a patent is treated for the purposes of this Chapter as a purchase of patent rights.

2 The grant of a licence in respect of a patent is treated for the purposes of this Chapter as a sale of part of patent rights.

3 But the grant by a person entitled to patent rights of an exclusive licence is treated for the purposes of this Chapter as a sale of the whole of those rights.

4 In subsection (3) “ exclusive licence ” means a licence to exercise the rights to the exclusion of the grantor and all other persons for the period remaining until the rights come to an end.