|9 Months Ended
May 31, 2022
9. Intellectual Property
Patent costs: all non-US based patent-related costs incurred in connection with preparing, filing, maintaining and prosecuting patent applications are expensed as incurred due to the uncertainty in the recovery of the expenditures. Amounts incurred are classified in general and administrative expenses.
All related costs for US patents are recognized as Intellectual Property. When a US patent is granted, it is amortized over the remaining useful life. Any subsequent costs incurred for a US granted capitalized patent are expensed as incurred.
The following is a list of US capitalized patents held by the Company:
A continuity schedule for capitalized patents is presented below:
*Patents are amortized over their legal life of 20 years.