Part 8

Patent allowances
Chapter 1

Introduction

Future patent rights
465
1
References in this Part to expenditure incurred on the purchase of patent rights include expenditure incurred on obtaining a right to acquire future patent rights.
2
If a person—
a
incurs expenditure on obtaining a right to acquire future patent rights, and
b
subsequently acquires those rights,
the expenditure is to be treated as having been expenditure on the purchase of those rights.
3
“A right to acquire future patent rights” means a right to acquire in the future patent rights relating to an invention in respect of which the patent has not yet been granted.
4
References in this Part to the proceeds of a sale of patent rights include a sum received from a person which is treated under this section as expenditure incurred by him on the purchase of patent rights.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7