Section 466 | Grant of licences

(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.