s 466 Grant of licences
(1) The acquisition of a licence in respect of a patent is to be treated as the purchase of patent rights. (2) The grant of a licence in respect of a patent is to be treated as a sale of part of patent rights. (3) But the grant by a person entitled to patent rights of an exclusive licence is to be treated as a sale of the whole of those rights. (4) “ Exclusive licence ” means a licence to exercise those rights to the exclusion of the grantor and all other persons for the period remaining until the rights come to an end.