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WATSON v. UNITED STATES

No. 5042.

222 F.2d 689 (1955)

Orla E. WATSON and Edith Watson, Appellants, v. UNITED STATES of America, Appellee.

United States Court of Appeals Tenth Circuit.

May 12, 1955.

Attorney(s) appearing for the Case

Lancie L. Watts, Kansas City, Mo., (Charles C. Shafer, Jr., and William J. Bell, Kansas City, Mo., on the brief), for appellants.

Joseph F. Goetten, Washington, D. C. (H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, A. F. Prescott, Walter Akerman, Jr., Sp. Assts. to Atty. Gen., and William C. Farmer, U. S. Atty., Wichita, Kan., on the brief), for appellee.

Before PHILLIPS, Chief Judge, and BRATTON and MURRAH, Circuit Judges.

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 hence the income derived from it was ordinary income.

Orla E. Watson conceived the idea of a cart that could be telescoped horizontally...

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