ERSM100410 - University Spin-outs

Definitions: ‘Intellectual Property’

This is defined in ITEPA03/S456 as:

  1. any patent, trade mark, registered design, copyright or design right, plant breeder’s rights or rights under section 7 of the Plant Varieties Act 1997;
  2. any right under the law of a country or territory outside the UK corresponding or similar to a right within (a);
  3. any information or technique not protected by a right within (a) or (b) but having industrial, commercial or other economic value;
  4. any licence or other right in respect of anything within (a) - (c); and
  5. any goodwill, as defined for accounting purposes, associated with anything within (a) to (d).

There is provision for this definition to be amended if required.

Some companies are thought of as spin-outs, as they derive from a specific area of work, but do not involve a transfer of IP. Unless anything else of value is transferred from the University, e.g. free use of premises, there is unlikely to be any charge arising and no need to claim the Chapter 4A relief.