ERSM100500 - University Spin-outs
Legal title to intellectual property
It may happen, particularly with intellectual property (IP) developed as part of a collaboration, that it is developed by different individuals in different organisations, and at different stages.
As part of the collaboration arrangements, all IP developed may be owned by an intermediate commercial company, but subject to agreements that may be at different stages.
If legal ownership still remains with the Research Institution (RI) so that it still has certain rights, there is likely to be some form of joint ownership of the IP with the intermediate company. In such a case, where the RI is a joint assignee because legal title has not been “perfected”, HMRC will regard the intellectual property as transferred from a qualifying research institution as required by Chapter 4A ITEPA 2003.