120. Patent allowances.

Allowances are available1 if a person incurs qualifying expenditure2 on the purchase of patent rights3.

'Patent rights' means the right to do or authorise the doing of anything which would, but for that right, be an infringement of a patent4. References to expenditure incurred on the purchase of patent rights include expenditure incurred on obtaining a right to acquire future patent rights5; and if a person incurs expenditure on obtaining a right to acquire future patent rights and subsequently acquires those rights, the expenditure is treated as having been expenditure on the purchase of those rights