| In the new economic era of information technology,small and medium-sized enterprises are showing their value of existence more and more,and constitute the two engines of national economic development with large enterprises.The development prospects of smes are good,however,there are still many bottlenecks in the development process,among which the most important one is the financing problem of smes.Since the reform and opening up more than 40 years ago,China’s intellectual property industry has developed rapidly.In recent years,the state council has issued documents to explore the issue of intellectual property securitization,and the state has begun to strongly support intellectual property financing through the issuance of securitization products.Recently,the successful issuance of several intellectual property securitization products has also attracted more and more attention from the market.As the first special plan for financial asset support of intellectual property supply chain in China,it is of sample significance for Qiyi Century’s intellectual property supply chain ABS to take the lead.Its successful approval and issuance is a concrete action to implement the major reform and innovation task of exploring intellectual property securitization.This special plan takes Beijing Qiyi Century Technology CO.,LTD.,a subsidiary of iQIYI,as the core debtor.The basic assets are accounts receivable creditor’s rights formed from the TV play copyright transaction,which not only meets the product requirements of asset securitization,but also meets the practical needs of intellectual property rights transformation.In this paper,literature method,comparative method,inductive deductive method and specification method and other methods are used,from the research results of scholars at home and abroad,and the definition of related concepts,as well as for small and medium-sized enterprise intellectual property securitization financing model research of the theory of narrative,as in the world intellectual property securitization financing project as an example,through this case situation,introduces the scheme design,operation and implementation,and so on and so forth,and the effect from financial and non-financial effect two aspects,in case the enterprise capital structure,operating and financial risks,financing costs,and the financial effects in the concrete analysis,The key links and effects of project design andimplementation as well as the operability and reproducibility of intellectual property securitization financing model are summarized,and relevant Suggestions are made to enterprises,industries and regulators.This paper argues that intellectual property securitization financing model has certain feasibility and can be copied,is conducive to the further development industry as a whole,for small and medium-sized enterprises(smes)have a good knowledge of property right is a kind of financing way,apply at the same time,the enterprise itself and related departments should perfect the relevant measures and ways to make this kind of financing way more security,so as to make the market more stable.The case selected in this paper is one of the few intellectual property securitization projects in China,and it is the first one of similar projects,which is representative and typical.At the same time,this project has opened up a new path of asset securitization financing in the intellectual property industry based on intellectual property trade,which is of milestone significance to the development of the whole industry and the financing of small and medium-sized enterprises,and has extensive demonstration effect. |
