Nature of, and transactions in, patents

(1) A patent or application for a patent is personal property (without being a thing in action), and any patent or any such application and rights in or under it may be transferred, created or granted in accordance with sub-sections (2) to (6) of this (2) Subject to section 32(2)(b), any patent or any such application, or any right in it, may be assigned or mortgaged. (3) Any patent or any such application or right shall vest by operation of law in the same way as any other personal property and may be vested by an assent of personal representatives. (4) Subject to section 32(2)(b), a licence may be granted under any patent or any such application for working the invention which is the subject of the patent or the application, and– (a) to the extent that the licence so provides, a sub- licence may be granted under any such licence and any such licence or sub-licence may be assigned or mortgaged; and (b) any such licence or sub-licence shall vest by operation of law in the same way as any other personal property and may be vested by an assent of personal representatives. (5) Any of the following transactions, that is to say– (a) any assignment or mortgage of a patent or any such application, or any right in a patent or any 28 (b) any assent relating to any patent or any such application or right, shall be void unless it is in writing and is signed by or on behalf of the parties to the transaction (or, in the case of an assent or other transaction by a personal representative, by or on behalf of the personal representative), or in the case of a body corporate, is so signed or is under the seal of that body. (6) An assignment of a patent or any such application or a share in it, and an exclusive licence granted under any patent or any such application may confer, on the assignee or licensee, the right of the assignor or licensor to bring proceedings by virtue of section 41 for a previous infringement.