PA 30 – Nature of, and transactions in, patents and applications for patents Flashcards
what does S30 concern
The nature of, and transactions in, patents and patent applications
What does a patent or application classify as
S30(1)
A patent or patent application is personal property
What can be done with a patents rights
S30(2)
It or its rights may be assigned (sold) or mortgaged (if it is co-owned all co-owners must consent)
How are licenses in patents dealt with
S30(4)
A licence can be granted on a patent or application to work the invention described therein, and
(a) a licence can allow sub-licensing, and such sub/licenses can also be assigned or mortgaged
(b) sub/license vest like other personal property
How a transactions in patents dealt with for co-ownership
All co-owners must consent to any transaction(See S36)
What are rights and licenses in a patent subject too
S30(6)
(a) assignments, mortgages, or rights, or
(b) agreements
being in writing and signed by or on behalf of the ASSIGNOR or MORTGAGOR (or the personal representative as appopriate
Whivh parties are entitled to bring infringment proceedings for earlier acts
S30(7)
assignment, a share, or an EXCLUSIVE licence of a patent my confer the right to BRING INFRINGEMENT PROCEEDINGS for EARLIER acts
How should transactions in patents be registered
using FORM 52
What type of patents and applications does S30 apply to
GB and EP(GB) cases
What do overseas owners need to transfer rights in patents or applictions
a UK representative
Who needs to sign to register an assignment or mortgage
the ASSIGNOR or MORTGAGOR
Do assignments/mortgages require witness signatures
Personal signatures require a witness, and corporate ones a seal
What tax implications are there for patent transations
VAT is payable on royalties
Purchase or patents/rights is a capital allowance so 18% tax can be written off
Who owns a patent if a company goes bust
Patent rights revert tot he crown, so liquidators should assign before disolving a company
Do assignments require consideration
Technically no, but only if it is only for a patent, if there are any other terms included it comes under normal contract law, so should include consideration
