Anne Fairpo continues our series on the taxation of intellectual property this week concentrating on enhancing intellectual property assets
Once intellectual property has been created or acquired it may be immediately ready for exploitation; often however further work needs to be done on the intellectual property to ensure that it is ready for exploitation.
This work can range from simple commercial development (generally oriented towards marketing the product of the intellectual property) to a fundamental enhancement of the intellectual property which takes it beyond what was originally created or acquired — for example: where the patent rights to a drug are acquired and following further work on the drug its effectiveness in treating a particular condition is substantially increased.
Often enhancement expenditure will...
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Anne Fairpo continues our series on the taxation of intellectual property this week concentrating on enhancing intellectual property assets
Once intellectual property has been created or acquired it may be immediately ready for exploitation; often however further work needs to be done on the intellectual property to ensure that it is ready for exploitation.
This work can range from simple commercial development (generally oriented towards marketing the product of the intellectual property) to a fundamental enhancement of the intellectual property which takes it beyond what was originally created or acquired — for example: where the patent rights to a drug are acquired and following further work on the drug its effectiveness in treating a particular condition is substantially increased.
Often enhancement expenditure will...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
