The Research On Intellectual Property Pledge Appraisal

With the rapid development of science and technology and the accelerated process of global economic integration, high-tech enterprises’ trend of industrialization has made it an important part of China’s market economy. Capital is a necessary condition for the development of high-tech enterprises; the growing financing needs of such enterprises bring lots of business resources for commercial banks. However, due to high-tech companies do not have the appropriate fixed assets as collateral or guarantees, banks and enterprises could not cooperate fully. This will not only limit the commercial banks’business expansion, but also hinder the expansion of high-tech enterprises and its sustainable development. The advantage of high-tech enterprises is intellectual property rights. Therefore, convert intellectual property rights into capital is a real problem that all sectors of society should concern. Especially in today that knowledge accumulation and technological progress play an increasingly significant role, achieving an effective combination of financial capital and intellectual capital has become an important way to realize economic innovation-driven and endogenous growth. Recently, China has gradually carried out intellectual property rights pledge loan business and this will undoubtedly provide a new finance path for the high-tech enterprises. But for now, the development of intellectual property rights pledge loan is very difficult. Most commercial banks are still on the sidelines. The main reason for the slow development of intellectual property rights pledge loan is the difficulty of its appraisal. The appraisal of intellectual property rights is the key factor that determines whether the bank lending and the lending size. As the unique characteristics of intellectual property rights, many special factors will influence its value during the pledge period which will increase the degree of difficulty of the appraisal and the determination of the loan amounts. Therefore, intellectual property rights pledge appraisal is the key link for the commercial banks. Reasonable valuation results not only will help commercial banks to reduce lending risk and promote the optimal allocation of funds, but also promote the commercialization of innovation, thus promote the industrialization of intellectual property rights and has important theoretical and practical significance.This paper study from the basic theory of the intellectual property rights pledge appraisal. Firstly, this paper analyzed the intellectual property’s concept, scope, and characteristics; intellectual property rights pledge loan’s concept, process and current situation; forming theory of intellectual property’s value and the selection of the value type, and then proposed pledge-lending-value. This value type fully considerate the special factors that will influence intellectual property rights’value during the pledge period and can meet the demand of the stakeholders in the process of intellectual property rights pledge loan. Secondly, on the base of the analysis of the factors that affecting the value of intellectual property, this paper constructed the index system of intellectual property rights’ value during the pledge period. Thirdly, this paper discriminated the three basic appraisal procedures, and put forward the Pledge Influence Coefficient Method which has combined the Analytic Hierarchy Process Method and the Fuzzy Comprehensive Evaluation Method. The Pledge Influence Coefficient Method is a quantitative analysis that can distinguish the factors that influence intellectual property rights’ value in the normal market conditions and in the pledge period. Then, this paper discussed the application of the Pledge Influence Coefficient Method by a specific case. Lastly, this paper made several suggestions including developing a scientific assessment specification, strengthening the intellectual property assessment index system, sounding assessment agencies, giving full play to the role of government and the commercial banks should strictly control the credit risk in order to make intellectual property rights pledge appraisal develop more smoothly.