Research On Intellectual Property Transactions Under Information Asymmetry

Technology is the leading force of economic development; intellectual property rights (IPRs) is an important pillar of enterprise development and survival. As an important part of IPRs utilization and transformation of sci-tech achievements, IPRs is playing an increasingly important role in the promotion of economic development and industrial upgrading. The impact of information asymmetry is considered one of the most important reasons of IPRs transactions. This paper argues that only by resolving this issue, IPRs trading market can develop healthily.Much of the information in the market is incomplete; in particular, trading participants often fail to obtain the knowledge whether the information is valuable. The features of IPRs may hinder the market mechanism from playing fully, causing the overall market efficiency and social welfare decline. In order to make IPRs transactions to be effective, the impact of actual socio-economic environment must be incorporated into consideration. This paper started with the theoretical review of IPRs transactions, including innovation economics, the technology gap theory, information economics, game theory and institutional economics.Asymmetric information and IPRs transactions section. This paper argues that when the two sides do not understand the trading background information, competition rules are not defined. The existence of information cannot symmetric, but it makes sense to understand the causes, mechanisms and IPRs transactions diffusion mechanism between them. This paper analyzes the performance of asymmetric information and the game and selection in the IPRs transactions.The IPRs transaction problems under asymmetric information background. Commercialization issues of IPRs, is an economic act in the modern market economy. IPRs itself and the economic characteristics of IP rights trading market triggered many problems. The paper analyzes the opportunism of IPRs transactions, barriers and traps, licensing, IPRs assessment, the lack of comprehensive service system of IPRs and the imperfect matching system of IPRs transactions from adverse selection, moral hazard, fairness and reciprocity, the system design perspectives.Countermeasures section. This paper argues that we must first establish an integrated service system for IPRs and build trading platform. IPRs transactions include IPRs and the subsequent products and services. The service system will make IPRs transactions more convenient. Second, the paper discusses the issue of IPRs assets valuation, analysis the improvement and use of multiple models. And starts from different levels to discuss how to deal with the IPRs barriers and traps, develops information resources and establishes a credit system. Further explores the inter-organization transactions, market structure, trade regulation and other issues. Finally, this paper analysis the link between regional economic development and IPRs transactions management with examples.The main innovation points: the use of multi-disciplinary theories and methods of IPRs transactions, start with the background and behavior research. Second, the IPRs include competition and cooperation, the paper combines them together to identify the initial responses by analyzing the operation mechanism and objective laws behind the back. Finally, jumps out of IPRs micro-transactions, from the perspective of regional economic development, the paper believes that IPRs transaction proliferation is not only the competition and cooperation between enterprises, but also the adjustment and services client of public policy under the regional economic development background, promote the development of IPRs transactions; to promote the development of IPRs transactions through the improvement of microstructure trading environment and the development & transformation of regional IPRs policy system.