| "Science and technology is an instrument for rejuvenating the country".Since the Guiding Opinions of the CPC Central Committee and the State Council on Supporting Hainan’s Comprehensive Deepening of Reform and Opening-up issued by the State Council in 2018,it is clearly mentioned that "encourage the exploration of intellectual property securitization and improve the intellectual property credit guarantee mechanism" The community and the practice community have begun to explore the securitization of intellectual property.However,in the "Qualification Questions and Answers on Asset Securitization(3)" recently issued by the China Securities Regulatory Commission,it was made clear that movie tickets should not be used as the source of cash flow for basic assets of asset securitization products.This can’t help but arouse the author’s thinking,what kind of basic assets can be securitized? Can patents apply this requirement? If not,can it be optimized through asset pool construction? In order to answer these questions,this article starts with patents,explores the requirements for the eligibility of basic assets,analyzes the eligibility of patent assets specifically,further introduces the specific model of the corresponding asset pool structure,and finally proposes the system construction Suggest.The first chapter is an overview of intellectual property securitization.This chapter is divided into two sections.The first section introduces the connotation and development process of traditional intellectual property securitization and analysis of the situation of intellectual property securitization in my country.It focuses on thedevelopment process of intellectual property securitization including the United States,Japan and China;and through summary analysis,we believe that the development of intellectual property securitization in China faces strong patent asset reserves,low patent asset industrialization rate,and effective asset securitization Resolving power situation.The second section introduces the three basic principles of asset securitization,including the "asset restructuring principle","bankruptcy isolation principle" and "credit enhancement principle".The second chapter discusses the basic asset requirements of intellectual property securitization.This chapter is divided into three sections.The first section introduces the essential elements of intellectual property basic assets.The second section introduces the regulations on the shape of basic assets in different legal systems.The third section screens and summarizes the above,and concludes that intellectual property securitization needs to meet the predictability,transferability,debtor is not the government and government agencies,and does not constitute the essential elements of core assets;and summarizes different legal systems Regulations on the form of basic assets.The third chapter is the eligibility of patent basic assets.This chapter is divided into two sections.The first section introduces the types of rights that patents may bring benefits,including the receivables of patented products,claims in patent licensing agreements,patent ownership,and patent litigation compensation.From the aspects of predictability,transferability,bankruptcy segregation review and core asset review.The second section includes the legal risks that may be caused by patents as basic assets,including internal legal risks,that is,the complex risk of patent rights,the regional and "parallel import" risk of patents,the risk of patent value evaluation limitations,and the risk of patent rights extinction.And external risks,namely patent infringement risk,patent invalidation application and alternative patent technology risk.The fourth chapter is the structure and regulation suggestion of the patent asset pool.This chapter is divided into three sections.The first section introduces the construction principles of the patent asset pool,and the second section introduces the important modes of the patent asset pool construction,enumerating the formation of a hybrid asset pool and paying attention to the antitrust review model,circular purchase model,double-layer SPV model,"license "Feedback" model to deal with the patent risk of the previous chapter.Section III introduces the necessary system guarantees forthe securitization of patent assets,including the implementation of the bankruptcy segregation system in the Bankruptcy Law,the abolition of the formal restrictions on basic assets in Circular 49,the cultivation of domestic patent vertical service providers and the strengthening of intellectual property rights Coordination and cooperation between the Bureau and the China Securities Regulatory Commission.The conclusions and suggestion part is from the theoretical understanding of intellectual property securitization,the appropriateness of the basic assets of intellectual property,the main content of the whole article is sorted out and summarized,relevant system recommendations and organizational structure arrangements are proposed,and finally the Prospects are forecasted. |
