A Study On The Legal Problems Of SPV In The Securitization Of Intellectual Property

In terms of the figure of patent application, China ranks high in the world, but it falls behind in the efficiency of intellectual property into productivity. Many small and medium-sized enterprises own a considerable number of intellectual property, however, they lack of funding support to convert into economic value. Intellectual property securitization is an effective combination of intellectual capital and financial capital, which will broaden small and medium-sized enterprises’ financing channel and promote the development of intellectual property of our country. To develop Intellectual Property Securitization, to guarantee the various interests and to convert intellectual property into economic value, it is very significant for us to study the issues about Intellectual Property Securitization, especially the establishment of SPV, the Special Purpose Vehicle, which is the core point of Intellectual Property Securitization. According to Intellectual Property Securitization and SPV, we also need to discuss the legal issues and modules about the establishment and provide legal protection to SPV establishment.The purpose of this research is to find the proper SPV establishment module, which will make the Intellectual Property Securitization to play an effective role in financing, will also let the true sale and bankruptcy-remote play their role effectively, will promote the practical development of Intellectual Property Securitization, and will maximize the value of intellectual property. The entry point of this thesis is asset securitization. Then we will study several significant legal issues of SPV establishment in the way of Intellectual Property Securitization and explore the problems we may meet in the way of developing Intellectual Property Securitization, make solutions to those problems and provide legal protection to the development. There are four chapters in this thesis. In the first chapter, we start with asset securitization. Then we will introduce the basic theory, current situation and develop tendency of Intellectual Property Securitization and the importance of SPV. In the second chapter, we will state the legal status and particularity of SPV, the legal relationship among the SPV, initiators, Obligators and investors and the issues in the development of SPV. In the third chapter, we will mainly discuss the SPV ’s organizational form in Intellectual Property Securitizing. We will introduce some kinds of different SPV, like corporate type and trust type. Then we will discuss the different operational modes, rights and obligations under different types of SPV. In the last chapter, we will make suggestions on the issues of the SPV establishment, discuss the subject of SPV establishment, and will make proposals to the questions of SPV organizational form and legal issues.