0606010 Informal Interpretation

Verne, B. Michael
From:
Sent:
To: 	~ e r n e , . ~ .~ i c h a e i
Subject: 	802.50 Foreign Asset Exemption Question
Mike, thanks for returning my call this morning and I'm sorry I missed
you.
The dispositive question for one of my clients is the following:
Company A is a U.S. company that has patent rights and know-how for a
drug that it is will exclusively license to B for use in Europe. The
exclusive patent rights will be European patent rights. The know-how
licensed to B will be licensed for use with the European patent rights
is protected only by U.S. trade secret law. B license is limited to
Europe.
Since the source of revenue for the patent rights and know-how
are exclusively European (B is prohibited from selling the drug to
U.S. consumers), can we consider the exclusive license of the European
patent rights and US.-protected know how "assets located outside the
U.S." for purposes of 802.50?
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