F1PART 8AProfits arising from the exploitation of patents etc

Annotations:
Amendments (Textual)
F1

Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)

CHAPTER 7Supplementary

Cost-sharing arrangements

357GCZDF2Acquisition of qualifying IP rights etc by another party to CSA

1

Subsection (2) applies if—

a

a company is a party to a cost-sharing arrangement,

b

a person (“A”) assigns to another party to the arrangement (“P”) a qualifying IP right,

c

the qualifying IP right is a right in respect of the invention, and

d

the company makes under the arrangement a payment in respect of the assignment (whether to A or to P).

2

The payment is to be treated for the purposes of section 357BLE as if it were a payment to A in respect of the assignment by A to the company of the right.

3

Subsection (4) applies if—

a

a company is a party to a cost-sharing arrangement,

b

a person (“A”) grants or transfers to another party to the arrangement (“P”) an exclusive licence in respect of qualifying IP right,

c

the qualifying IP right is a right granted in respect of the invention, and

d

the company makes a payment under the arrangement in respect of the grant or transfer (whether to A or to P).

4

The payment is to be treated for the purposes of section 357BLE as if it were a payment to A in respect of the grant or transfer by A to the company of the licence.