Study On Pledge Financing Based On Copyright Of Video Works

As a capital-intensive cultural industry,the film industry is inseparable from huge financial support.The financing work for video works is an important guarantee for the successful completion and distribution of them.The development trend of commercialization of intellectual property in the world today is irreversible and video works have the core value of copyright.As a result,the use of property rights in the copyright of video works as guarantee subject to obtain funds is not only an innovation in the use of copyright,but also a key to solving the difficulty of financing the film industry.China's current pledge financing based on copyright of video works mainly presents three modes: copyright pledge plus third-party institution guarantee,copyright pledge plus unlimited joint and several liability of the actual controller and copyright pledge package loan.Financial institutions and banks focus on how to increase credit and how to build a reliable credit system.As a pledge target,the copyright of video works have many specialities compared with the traditional pledge target.Banks and other financial institutions often require additional traditional guarantee methods to diversify risks.The most obvious particularity is that the pledged copyright is usually not formally formed.Therefore,from the perspective of the financing institutions,the discussion about whether the copyright of unfinished video works can be pledged is the applicable premise.And from the perspective of dispersing the risk of the lending bank,the conflict of double disposition of video works,the difficulty in evaluating the value of video works,and the risk of the completion of video works will need to be resolved urgently during the implementation of the system.In order to give financial institutions more financing possibilities and considering the punish ability of expected benefits and the transferability of future copyrights,eligibility of the copyright of video works as a pledge target can be determined by proposing the legal concept of Video Works Copyright of Expectation.At the same time,the pledge registration of the incomplete right can be confirmed through the advance pledge registration system.In the follow-up practice,in order to diversify the risks of pledge right holders,this financing model can be improved by forming an orderly connection between the copyright transfer registration and pledge registration systems,building a complete value evaluation system of the copyright of video works,and exploring a complete guarantee model with Chinese characteristics.