Document ID: chunk:federal_register_of_legislation:F2023C00402:front:0:p74
Version: federal_register_of_legislation:F2023C00402
Segment Type: other
Provision Reference: 
Character Range: 192693–195711

from licences of IP, unless the licensor decides to apply the recognition exemptions set out in paragraphs Aus8.1–Aus8.5.

G13 AASB 15 does not define IP, and consequently judgement is required in determining whether a licence is a licence of IP or not. Paragraph B52 notes that IP may include, but is not limited to, any of the following:

     (a)               software and technology;

     (b)               motion pictures, music and other forms of media and entertainment;

     (c)               franchises; and

     (d)               patents, trademarks and copyrights.

G14  IP may also arise from research activities. Example 3 in paragraph IE3 provides an example of accounting for such a licence.

     Non-IP licences

G15 Where a not-for-profit public sector licensor determines that a licence is a non-IP licence, the licensor shall consider whether the licence is for:

          (a)                    rights over the licensor's identified asset(s), in which case the arrangement might be a lease (or contain a lease), and fall within the scope of AASB 16;

          (b)                   rights over the licensor's non-identified asset(s), in which case the licence might:

               (i)                       not be distinct from other promised goods or services in the arrangement, and shall therefore be combined with the other goods or services and accounted for as a bundle of goods or services (see paragraphs G20 and G21); or

               (ii)                     be distinct from other promised goods or services, and shall therefore be accounted for as a separate performance obligation in accordance with the principles of AASB 15 (see paragraphs G16–G21 for guidance on applying certain aspects of the principles). The Application Guidance for licences of IP in paragraphs B52–B63B shall not be applied to this type of licence; or

          (c)                    the right to perform an activity, which would not involve an asset or assets of the licensor, and if distinct from other goods or services, shall be accounted for as a separate performance obligation in accordance with the principles of AASB 15 (see paragraphs G16–G21 for guidance on applying certain aspects of the principles). The Application Guidance for licences of IP in paragraphs B52–B63B shall not be applied to this type of licence.

Identifying performance obligations

G16 Where a licensor issues a non-IP licence that transfers to the licensee either rights over the licensor's non-identified assets or a right to the licensee to perform an activity (that does not involve an asset or assets of the licensor, for example the right to operate a casino), the licensor shall assess goods or services promised in the arrangement and shall identify each distinct performance obligation promised to the licensee in accordance with paragraphs 22–30 of AASB 15.

Identifying the customer
G17 Appendix A defines a customer for the purpose of this Standard. In the context of non-IP licences, the customer is