Study On Financing Models Of The Intellectual Property Rights Trading Platform

With the rapid development of knowledge economy, the amount of patent technology application in China has occupied more than one third of the whole world’s application. It is urgently needed to improve the intellectual property, patent technology transfer conversion rate. Therefore, the establishment of intellectual property rights trading platform is of great significance on promoting their trade and transfer rate. The development of China’s intellectual property rights trading platform is still in its infancy. As a special type of Internet platform, financing has significant effects on its development. So the discussion of platform’s particularity and financing needs, as well as the final design of appropriate financing model make sense.Academia has explored a lot about platform economics and the constructions of intellectual property trading platforms, but there is little research on the financing of Internet platform. What’s more, their recommendations mostly focus on improving the basic platform of information disclosure, strengthening risk control management, guiding venture capital and so on, rather than analyzing specific financing model. Consequently, the specificity of intellectual property rights trading platform is found compared with normal Internet platform. Based on the analysis of the financing feature and need of the platform, we build a framework for financing model of the intellectual property rights trading platform. With less data of the platform collected, a case study is used to verify the conclusions.Taking into account the development of the intellectual property trading platform in China, the conclusions are as follows. (1) When the platform is in its seed stage or start-up stage, it mainly focuses on the platform establishment and the accumulation of users. Its own funds, angel investment and government-backed funds can be main financing ways. (2) When the platform is in its growth stage, it needs to introduce a large number of talents specialized in intellectual property. The ideal financing way is venture capital or private equity investment. (3) When the platform is in its mature stage, it concentrates on scale expansion, and its credit state is in good condition. Bank loan or IPO in the capital markets will be a good choice. The proposed financing model is generally consistent with the financing strategy of the first online intellectual property trading platform in China, which has theoretical guidance for extending financing channel and promoting the healthy development of intellectual property trading platform to some extent.