A corporation acquires a licence that permits it to manufacture a patented product for 10 years in

Question:

A acquires a licence that permits it to manufacture a patented product for 10 years in exchange for the payment of a royalty. Describe the tax treatment that will occur if the taxpayer sells the licence for more than its cost or less than its cost to another party before the 10-year term expires. Would the tax treatment be the same if the licence had an unlimited life?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...