Intangible assets within CTA09/PART8: asset conditions: meaning of intangible asset: intellectual property
CTA09/PART8/S712 (2) provides that an intangible asset ‘includes’ (and so is not confined to) ‘intellectual property’ as defined in sub-section (3).
The definition encompasses:
- specified intellectual property rights that are recognised and protected under UK law, together with equivalent rights under foreign law. Patent, trade mark, registered design, copyright (which includes rights in computer programs and databases) or design right, and rights in respect of plant varieties are specified in this way,
- any information or technique having economic value but not protected by a right under (a) above, for example knowledge of an industrial process that is not generally available,
- any licence or right in respect of property rights, information or techniques within (a) and (b) above.
The exclusions from the scope of Part 8 described in CIRD25000 onwards apply to property within this definition. For example, rights in a sound recording are excluded from Part 8 (see CIRD25130) even though they would otherwise fall within (a) above.