Fawick v. Comm'r
United States Tax Court
One of petitioners assigned certain patents, together with improvements that may be owned, controlled, or subject to licensing by him, to Falk Corp. After this assignment this petitioner assigned a part of his right under this contract to his wife, the other petitioner in this case. The assignment provided for an exclusive license only with respect to uses for marine purposes.
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One of petitioners assigned certain patents, together with improvements that may be owned, controlled, or subject to licensing by him, to Falk Corp. After this assignment this petitioner assigned a part of his right under this contract to his wife, the other petitioner in this case. The assignment provided for an exclusive license only with respect to uses for marine purposes. The assignor together with the assignee worked on certain improvements and a number of improvements were patented by the petitioner-assignor. After expiration of the original patents but while an improvement patent…
1Opinion of the Court
OPINION
It is petitioners’ position that the payments by Falk Corp. to Marie Fawick constitute capital gain under the provisions of section 1235, I.R.C. 1954.1 Petitioner states that the payments by Falk Corp. to Marie Fawick were under the provisions of the original agreement between Falk Corp. and petitioner granting to Falk Corp. an exclusive license to make, to use, and to sell for marine service one-to-one driving clutches embodying the inventions of patent applications Nos. 99,420, 99,421, and 101,638 “or any improvements thereon that may be owned, controlled, or subject to licensing by…
2Cases cited10 opinions
- Proskey v. CommissionerUnited States Tax Court · 1969
- Dreymann v. Comm'rUnited States Tax Court · 1948
- De Long Corporation v. Joseph E. LucasCourt of Appeals for the Second Circuit · 1960
- Marco v. CommissionerUnited States Tax Court · 1955
- De Long Corporation v. LucasDistrict Court, S.D. New York · 1959
5 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- E. I. Du Pont De Nemours and Company v. United StatesCourt of Appeals for the Third Circuit · 1970
- Thomas L. Fawick and Marie Fawick v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1971
- Albert A. Mros and Doris Mros v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1974
- Don and Irene Kueneman, John R. Kueneman, and Edmund W. And Ella M. Harrell v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1980
- Kueneman v. CommissionerUnited States Tax Court · 1977
15 more not listed; retrieve them via the Exa API.