Research On The Legal Risks And Countermeasures Of Patent Asset Securitizatio

The problems of difficult and expensive financing for scientific and technological innovation-oriented small and medium-sized enterprises have become an important factor that hinders their further development.Whether it is traditional bank loans,corporate bonds,equity financing or the rapid development of patent pledge loans in recent years,more or less Few have some defects,which are not conducive to the financing of scientific and technological innovation-oriented small,medium and micro enterprises.As an offshoot of asset securitization,patent asset securitization has shown great potential for development.It can not only effectively provide large-scale and low-cost financing for scientific and technological innovation-oriented small and medium-sized enterprises,but also promote the implementation of patents.Promote innovation in society.As a new financing tool,patent asset securitization is not a perfect "alchemy",and it exposes some risks in practice.This paper mainly discusses the legal risks and proposes corresponding solutions accordingly.There are four kinds of legal risks discussed in this paper,which are the risk from the underlying assets,the vulnerability of the legal structure of the patent asset securitization,the risk of the alienation of the patent asset securitization system and the defects of the information disclosure system of the patent asset securitization.In terms of the risk from the underlying asset,it includes the instability of patent itself,the instability of patent asset value and the immateriality of patent object.Considering the instability of patent itself,this paper considers that invention patent should be considered in the selection of underlying assets,utility model patent should be carefully selected,and appearance design patent should be avoided as far as possible.Second,pools of underlying assets should be built to spread the risk of individual or partial invalidation of patents.Finally,adequate due diligence should be conducted in order to eliminate the risk at source.In view of the instability of the value of patent assets and the immateriality of patent objects,both of them ultimately affect the stability of the cash flow of the underlying assets.Therefore,this paper believes that the dual-layer SPV structure can be introduced into the patent assets securitization.In order to solve the vulnerability of the legal structure of patent asset securitization,in addition to introducing trust SPV into enterprise asset securitization,we should adopt centralized legislation to solve the problem fundamentally.Patent securitization risk prone to alienation in the process of practice,mainly including risk and risk of patent assets credit replaced purpose alienation,alienation risk for purpose,this paper argues that should strengthen the government’s guidance,in the current stage for patent asset credit risk be replaced,although the risk and the present situation of the implementation of the patent has a lot of contact,But this paper still thinks that we should stick to the basic principle of patent asset securitization and issue securities supported by patent asset credit.In order to effectively solve the defects of the patent asset securitization information disclosure system,this paper argues that special patent asset securitization disclosure rules should be formulated.Specifically,on the basis of the general provisions made by centralized legislation,the general provisions should be refined by the regulations of regulatory departments.In the conclusion part,this paper points out that patent asset securitization in China has a strong administrative attribute at the current stage,which is beneficial to the early development of patent asset securitization.However,in order to realize the long-term and benign development of patent asset securitization,the government needs to step out and make it fully marketized.