Are the expenses of obtaining a patent tax deductible?

Under the Federal Tax laws, patents, as well as copyrights, formula, process, design, pattern, know-how, format or similar item, are treated as intangible assets that can be amortized over a 15-year period. (Note: Computer Software is excluded).

Further, favorable tax treatment is provided in the event a transfer of patent takes place.

A business is additionally provided a deduction for research or experimental expenses.