Good morning
My client has incurred some legal fees in connection with the grant of a licence to a company established in Asia which give the licencee the right to use her company's trademark and designs in a specific region of Asia.
The agreement has no end date (it effectively runs as long as the UK company is in existence) and there has been no price paid for the licence - the agreement is that the UK company will recive 10% of income generated in Asia.
Whether there will ever be any income is up for debate!
Has anyone come across such an agreement previously or have any useful pointers for how the legal fees incurred should be treated?
Many Thanks