Study On The Legal Issues Of The Patent Asset Securitization

In the background of financial marketization, the development and restructuring of our social economic and the demand of companies’capital need a much freer and more diversified market. Giving greater play to the fundamental role of the market in financial resource allocation and broaden the channels for investment is the main task of recent financial reform. With the era of techno-economic, patent assets become core assets in the corporate assets. The operation of patent assets in business brings us more benefits. Patent asset Securitization, the combination of the financial innovation tool and the patent assets, has a bright future. On the one hand, it provides a new financial tool to companies, which hold a lot of patent assets but lack of funds. On the other hand, Securitization gives patent assets economic value. It can achieve effective integration of knowledge capital and financial capital, and greatly improved the utilization of patent. So we should support the development of patent assets securitization. But, as a tool of financing, patent asset securitization may be at risk inevitably. China has actively carried out the patent asset securitization in recent years, but we don’t have much experience and we are still in the realm of theory. The lack and obstacles of the current law is the important reason for restricts the development of patent asset securitization. This thesis selects the risk isolation system as the standpoint. Specifically, the thesis studied on the two main issues of the risk isolation system, which are the true sale and the bankruptcy remoteness, to promote the securitization of patent assets in our country. This thesis is divided into three parts of introduction, body and conclusion. The body part consists of four parts:The first part is an overview of the asset securitization. It introduces the development process, the contents and the tendency. And then it analyses the basic operation process and subjects of legal relation.The last part focuses on the bankruptcy remoteness of trade subjects in patent asset securitization. The thesis sets forth how to remote the risk of bankruptcy from the Original and the SPV.The third part focuses on the true sale of the underlying assets. The main issues are about how to define the scope of the underlying assets, the requirements of underlying assets and how to realize the true sale.The second part analyses the features and advantages of patent asset securitization. And it points out the core issue is the construction of risk isolation system. The thesis puts forward that we can realize the risk isolation from two aspects, which are the underlying assets and the trade subject in an innovative way.