新马捷知识 产权证 券化的设立及法律风险防范.docxVIP

摘 要从美国第一例知识产权证券化案例——鲍伊证券案以来, 资本市场逐渐认同知识产权的巨大价值。第一章主要介绍知识产权证券化的概念、实质、交易结构及世界发展态势, 尤其是在美国、日本、欧洲等国的典型案例及我国知识产权证券化制度建设环境。第二章主要分析知识产权证券化过程中的关键问题。第一节谈到了知识产权作为基础资产的相关法律问题，包括知识产权的“真实销售”、资产池的构建、将来债权让与等。第二节提出SPV的相关法律问题。首先介绍了SPV结构设计的三种模式，即公司制、信托制和合伙制，并分析我国当前的法律体系，是否可以为三种结构模式提供法律支持。同时，还分析了 SPV 的破产风险，即除了主动破产外，还有债权人申请破产等。第三章主要对知识产权证券化过程中的关键问题提出可行化构想。第一节针对基础资产的问题建议是：统一登记机构和登记程序以完善质押登记制度；通过专门立法等方式降低“真实销售”的法律风险；以平衡竞争与垄断为原则构建知识产权资产池；确立将来债权在我国的法律地位并以公告的形式实现债权人通知义务。第二节提出我国现阶段更适合采用政府主导型的信托制 SPV模式，同时，应充分利用章程、协议、决策程序等来约束SPV自身或其债权人的破产申请。第四章主要提出知识产权证券化过程中的支撑体系及其完善建议，如通过政府扶持担保公司、建立知识产权保险体系、统一监管机构、建立行业自律组织、完善信息披露制度、及建立信用评估体系等。AbstractIntellectual property securitization as a new financing tool, a sponsor in the intellectual property rights as the basic assets, transferred to a special purpose vehicle, which can generate future cash flow to guarantee the stability, through certain structural arrangement and combination, separation and recombination of the intellectual property rights of return and risk, through credit enhancement, into a more freedom in the capital markets issuance and sale of the financing tools. Intellectual property securitization in American, have spread to Britain, France and other developed countries in Europe, and in Japan and other Asian countries. As a new system, in the process of development may not Everything is going smoothly., securitization of intellectual property in the process of growth will inevitably encounter many risks and obstacles. Therefore, careful, rigorous legal system for intellectual property securitization will be the good operation of escort. This paper focuses on the intellectual property securitization has emerged in the operation of our country and the future possible legal issues a detailed analysis, combined with Chinas current social background and legal environment, embarks from the reality, proposed to choose the suitable for the development of our country, and the feasible suggestions and opinions.Keywords: Securitization of intellectua