Burde v. Commissioner
United States Tax Court
Petitioners Max A. Burde and Bernard Weiss each acquired a one-third interest in a bath oil invention in consideration for their promise to assist the inventor in the development thereof. Because of the extent of their mutual activities in connection with the development of the invention, these three individuals held the invention as joint venturers.
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Petitioners Max A. Burde and Bernard Weiss each acquired a one-third interest in a bath oil invention in consideration for their promise to assist the inventor in the development thereof. Because of the extent of their mutual activities in connection with the development of the invention, these three individuals held the invention as joint venturers. Prior to the time the invention was reduced to practice, the joint venturers sold it to a partnership in which the inventor, Burde's wife, and Weiss' wife each held a one-third interest. Held: Section 1235 is inapplicable because the transfer…
1Opinion of the Court
Max A. Burde and Berthe C. Burde, Petitioners, v. Commissioner of Internal Revenue, Respondent; Bernard Weiss and Peggy S. Weiss, Petitioners, v. Commissioner of Internal Revenue, Respondent
Burde v. Commissioner
Docket Nos. 1364-62, 1365-62
United States Tax Court
43 T.C. 252; 1964 U.S. Tax Ct. LEXIS 12;
November 30, 1964, Filed November 30, 1964, Filed
Decisions will be entered for the respondent.
Petitioners Max A. Burde and Bernard Weiss each acquired a one-third interest in a bath oil invention in consideration for their promise to assist the inventor in the development thereof. Because of the…
2Cases cited21 opinions
- Commissioner v. TowerSupreme Court of the United States · 1946
- Beck Chemical Equipment Corp. v. CommissionerUnited States Tax Court · 1957
- Dreymann v. Comm'rUnited States Tax Court · 1948
- Philbrick v. CommissionerUnited States Tax Court · 1956
- Tompkins v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1938
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