CERTYNEX IFRS ACADEMY

Fermelis has mastered a fermentation process that it has not patented. In its industry, manufacturers commonly license comparable processes to other producers. Fermelis has never granted a licence and its management wants to keep the process to itself. For the identifiability analysis only, what conclusion should be drawn?

The process is not identifiable, since there is no patent or other legal right.

The process is identifiable, because it could be licensed to third parties.

The process is not identifiable, because management refuses to grant any licence.

The process is identifiable only once a patent has been filed and a licence signed.