CERTYNEX IFRS ACADEMY

Brevalis, owner of a patented process, grants a customer a licence to use that process for five years. Which standard does Brevalis apply to this licence?

IFRS 15, because licences of intellectual property granted by a lessor are excluded from IFRS 16.

IFRS 16, because Brevalis makes an asset available to a customer for a period, like a lessor.

IFRS 16 by option, since the asset concerned is an intangible asset.

IAS 38, because the patented process is an intangible asset of Brevalis.