Blake v. Comm'r
United States Tax Court
1. Petitioner owned a patent on a leveling device. He granted an exclusive license to American in 1954, limited to the public seating field, and an exclusive license to Ever-Level in 1960, limited to the restaurant field. He received royalties under both licenses as well as damages for patent infringement by others.
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1. Petitioner owned a patent on a leveling device. He granted an exclusive license to American in 1954, limited to the public seating field, and an exclusive license to Ever-Level in 1960, limited to the restaurant field. He received royalties under both licenses as well as damages for patent infringement by others. Held, petitioner retained valuable rights at the time of the American license and is not entitled to capital gain treatment of royalties received thereunder under sec. 1235, I.R.C. 1954. Fawick v. Commissioner, 436 F.2d 655 (6th Cir. 1971), revg. 52 T.C. 104 (1969), followed under…
1Opinion of the Court
David R. Blake and Betty H. Blake, Petitioners v. Commissioner of Internal Revenue, Respondent
Blake v. Comm'r
Docket No. 8235-74
United States Tax Court
67 T.C. 7; 1976 U.S. Tax Ct. LEXIS 40; 192 U.S.P.Q. (BNA) 45;
October 6, 1976, Filed
Decision will be entered under Rule 155.
1. Petitioner owned a patent on a leveling device. He granted an exclusive license to American in 1954, limited to the public seating field, and an exclusive license to Ever-Level in 1960, limited to the restaurant field. He received royalties under both licenses as well as damages for patent infringement by others. Held,…
Also in this document: Concurring in part, dissenting in part.
2Cases cited39 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Continental Tie & Lumber Co. v. United StatesSupreme Court of the United States · 1932
- United States v. Safety Car Heating & Lighting Co.Supreme Court of the United States · 1936
- Lawrence v. CommissionerUnited States Tax Court · 1957
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