The Spread Risks Mechanism Of Intellectual Property Right Pledge Financing

Intellectual property pledge financing is a finacing way which intellectualproperty owers pledge their patents, trademarks, copyright or other intellectualproperty rights as security for a loan from commercial banks and other financialinstitutions, and duly repay the principal and interest. With the constant improving ofour country’s capacity for independent innovation and the core competitiveness ofenterprises, small and medium-sized enterprises get rapid development, and as animportant financing channel, intellectual property pledge can solve the financinginsufficiency problem and enhance the core competitiveness of enterprises, whichplaying an important role in the commercialization and industrialization of scientificand technological achievements, thus has been attached more and more attentions bylocal governments and enterprises.In recent years, the people’s bank of China, the state intellectual property officeand other departments promoted the development of this business through varies ofways and measures, also carried out the corresponding pilot work and achievedcertain achievements. However, there are still difficult problems in the intellectualproperty appraisal, risk control and etc, which hinder the promotion. Main problemsrestricting the development of intellectual property pledge financing is theunrealization of accurate evaluation of the economic value of intellectual propertyrights, leading to the high legal, economic and liquidity risk of financial institutions’to carrying out the intellectual property pledge financing. The most urgent to promoteintellectual property pledge financing is to establish an effective intellectual propertypledge financing risk dispersed mechanism, to minimize the risks and help theinvestigation institutions, such as bank would be able to withdraw it’s funds.At present, there exists so many problems in our country’s intellectual propertypledge financing as the complexity of procedure, high cost of financing, chaos ofevaluation criteria, and imperfection of trading platform, which are rooted in theeconomic risk caused by its unstable economic value, the liquidity risk brought by itsinstable transaction value, and the legal risks from instability of rights. While, theexisting risk dispersed mechanisms like the pledge displacement mechanism, thegovernment guarantee mechanism, the counter guarantee mechanism and themechanism of mixed guarantee have obvious regional and limitations, which are not suitable for a wide range of promotion. It is only through taking measures asimproving financial policies and regulations, perfecting evaluation system ofintellectual property pledge financing, establishing a sound intellectual propertypledge financing insurance mechanism and a price guarantee mechanism of assetacquisition, and establishing guarantee alliance of intellectual property pledgefinancing enterprises, can effectively disperse the risk of intellectual property pledgefinancing, to promote in-depth development of intellectual property pledge financingbusiness, so as to solve the capital bottleneck problem in the development of domesticinnovative small and medium-sized enterprises.