Thank you for your answer! The software does generate income, and expensing further development would be our preferred way to go. Would such treatment follow section 174? (As a side note -- we have decided to treat the assigned software as section 197 intangible. Does this in any way affect the treatment of the further development cost?)
I am not aware of the limits on expensing a high cost IP asset. Could you please refer me to an article covering this?
