融资创新：一个项目的融资方法专利资金的创新外文翻译.docVIP

外文翻译 原文 Financing Innovation: A Project Finance Approach to Funding Patentable Innovation Material Source: /ehost/pdfviewer Author: Richard Bis Project finance is a method of financing an entity through sponsor equity and generally non-recourse bank debt to be repaid by the cash flow of the enterprise.It has never (to this author’s knowledge) been applied to an entity engaged in the production, acquisition, and monetization of patent assets.Such an invention company would internally generate patents through research and invention, would acquire patents (often from sources such as universities and corporate bankruptcies), and would package and sell rights to these patents (in various forms) to generate cash flow in order to pay down debt, to continue operations, and to distribute profits to the entitys sponsors. Some of the aspects of project finance that make it, in general, a desirable financing tool would also apply to an invention company. However, there are additional issues that are unique to an invention company that would make project finance especially beneficial. A This article will first present an overview of the developments in the intellectual property (IP) market that provide the foundation for the feasibility of a successful invention company. Additionally, it will present a qualitative study of the benefits and risks to such a financing strategy and will focus on the means of production of, risks to, and mitigation techniques for preserving the critical cash flow of the invention company. Finally the article presents and evaluates a few scenarios that are the most likely to benefit from project financing. The recent growth in the patent market reveals the possibility of success for an invention company. It has been estimated that the US patent market had transactions worth approximately $500 million in 2006. “More recently, a single patent broker in Silicon Valley claimed to have completed over $50 million in patent