Legal Opinion
Orla E. Watson and Edith Watson v. United States
Court of Appeals for the Tenth Circuit
Decided May 12, 1955No. 5042_1PublishedCited by 74 opinions
1Opinion of the Court
BRATTON, Circuit Judge.
The crucial question in this case is whether for income tax purposes a contract constituted an assignment of patent rights and therefore the income which the patentee derived therefrom was long-term capital gain, or whether the contract constituted a license and henee the income derived from it was ordinary income.
Orla E. Watson conceived the idea of a cart that could be telescoped horizontally, one into another. The cart was designed particularly for use in grocery stores. Watson made a pencil drawing of the cart, finished two experimental models,, tested them…
2Cases cited20 opinions
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- United States v. General Electric Co.Supreme Court of the United States · 1926
- Myers v. Comm'rUnited States Tax Court · 1946
- Heryford v. DavisSupreme Court of the United States · 1880
- Rude v. WestcottSupreme Court of the United States · 1889
15 more not listed; retrieve them via the Exa API.
3Cited by74 opinions
- Prima Tek II, L.L.C. v. A-Roo Co.Court of Appeals for the Federal Circuit · 2000
- Green v. Comm'rUnited States Tax Court · 1984
- Levin v. CommissionerUnited States Tax Court · 1986
- Bell Intercontinental Corporation v. The United StatesUnited States Court of Claims · 1967
- Law v. CommissionerUnited States Tax Court · 1986
69 more not listed; retrieve them via the Exa API.