González Chemical Industries, Inc. v. Secretary of the Treasury

Texaco Development Corporation, a corporation organized under the laws of Delaware, has a license for the manufacture of ammonia and methanol employing a synthesis gas generation process for the production of carbon monoxide and hydrogen. On August 2, 1955 a license agreement was executed between the aforesaid corporation and appellant, González Chemical Industries, Incorporated, a local corporation by virtue of which the latter was granted a license of a nonexclusive and nontransferable nature for the use of the aforesaid process, for which the latter bound itself to construct, within the…