Study On Legal Issues In Foundational Assets Transfer Of Intellectual Property Securitization

According to the latest research on China's regional modernization level in the China modernization report 2019 released by the Chinese academy of sciences,eleven regions in China have completed the first phase of modernization,with Beijing,Shanghai,Guangzhou,Macao and Taiwan entering the second phase of modernization.The second modernization refers to the transformation process from industrial economy to knowledge economy.In the form of knowledge economy,intellectual property,as an asset,has played a far more important role than traditional production factors such as labor force and tangible assets,and has become the most critical factor of economic development.As one of the most important resources in enterprise development,the value of intellectual property has been widely recognized.However,due to its characteristics of poor liquidity and difficulty in commercialization,intellectual property as an asset is difficult to fully explore its economic value.As the product of financial market innovation,asset securitization was born in the United States at the end of the 20 th century.Intellectual property securitization,a special form of asset securitization,is the product of the in-depth development of asset securitization in the era of knowledge economy.The birth of intellectual property securitization provides a new financing channel for enterprises,which can not only reduce the financing cost of scientific and technological enterprises,speed up the transformation of technological achievements,but also stimulate the innovation consciousness of enterprises so as to spontaneously improve the innovation ability.Although intellectual property securitization has developed by leaps and bounds in developed countries such as the United States and Japan,it is still in its infancy in China.Intellectual property securitization involves accounting,finance and law,and is a complex financial project.At present,there is still a lack of systematic and in-depth research on intellectual property securitization in domestic legal theorists.As one of the foundational assets,intellectual property is essentially the same as other foundational assets and applies to the general principle of asset securitization.But as a special kind of foundational assets,intellectual property must have its unique points of concern,this article through the analysis of intellectual property securitization particularity.By analyzing the particularity of intellectual property securitization,this paper intends to find out the legal obstacles to the transfer of foundational assets in China's intellectual property securitization,and draw on foreign experience,so as to provide feasible Suggestions for clearing the obstacles for China's intellectual property securitization.In terms of structure,the paper is divided into four parts except the introduction and conclusion.The first part briefly introduces the foundational concept of intellectual property securitization,and then starts with the standard of securitizable intellectual property foundational assets,studies the main types of securitizable intellectual property foundational assets,and draws the conclusion that intellectual property derivative claims are the most suitable intellectual property asset securitization foundational assets.The second part puts forward some legal issues about the transfer of foundational assets of intellectual property securitization in China,including the lack of legal norms of future claim,the lack of legal status of special purpose vehicles and the lack of legal standards of "true sale".The third part is a comparative study and analysis of the laws and regulations of extraterritorial countries on the above issues.The fourth and the last part of the article puts forward some suggestions on the legal issues related to the transfer of foundational assets of intellectual property securitization in China.