Part 8

Patent allowances
Chapter 1

Introduction

Grant of licences
466
1
The acquisition of a licence in respect of a patent is to be treated as the purchase of patent rights.
2
The grant of a licence in respect of a patent is to be treated as a sale of part of patent rights.
3
But the grant by a person entitled to patent rights of an exclusive licence is to be treated as a sale of the whole of those rights.
4
“Exclusive licence” means a licence to exercise those rights to the exclusion of the grantor and all other persons for the period remaining until the rights come to an end.
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