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(1)The Authority have power, and shall be deemed always to have had power, to exploit commercially by selling, licensing the use of or otherwise dealing with any intellectual property—
(a)resulting from research and development carried out by the Authority or carried out by another person in pursuance of arrangements with the Authority, or
(b)which is at the disposal of the Authority by virtue of arrangements for the exchange of results of research and development or the carrying out of research and development in collaboration with another person.
(2)For this purpose " intellectual property " includes patents, trademarks, copyrights, registered designs and any other scientific or technical information of commercial value.
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