26 USC 1235 - Sale or exchange of patents

(a) General 
A transfer (other than by gift, inheritance, or devise) of property consisting of all substantial rights to a patent, or an undivided interest therein which includes a part of all such rights, by any holder shall be considered the sale or exchange of a capital asset held for more than 1 year, regardless of whether or not payments in consideration of such transfer are
(1) payable periodically over a period generally coterminous with the transferees use of the patent, or
(2) contingent on the productivity, use, or disposition of the property transferred.
(b) “Holder” defined 
For purposes of this section, the term holder means

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(1) any individual whose efforts created such property, or
(2) any other individual who has acquired his interest in such property in exchange for consideration in money or moneys worth paid to such creator prior to actual reduction to practice of the invention covered by the patent, if such individual is neither
(A) the employer of such creator, nor
(B) related to such creator (within the meaning of subsection (d)).
(c) Effective date 
This section shall be applicable with regard to any amounts received, or payments made, pursuant to a transfer described in subsection (a) in any taxable year to which this subtitle applies, regardless of the taxable year in which such transfer occurred.
(d) Related persons 
Subsection (a) shall not apply to any transfer, directly or indirectly, between persons specified within any one of the paragraphs of section 267 (b) or persons described in section 707 (b); except that, in applying section 267 (b) and (c) and section 707 (b) for purposes of this section
(1) the phrase 25 percent or more shall be substituted for the phrase more than 50 percent each place it appears in section 267 (b) or 707 (b), and
(2) paragraph (4) of section 267 (c) shall be treated as providing that the family of an individual shall include only his spouse, ancestors, and lineal descendants.
(e) Cross reference 
For special rule relating to nonresident aliens, see section 871 (a).