Modifications etc. (not altering text)
C1 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
(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.