By Han Bin, Management World Magazine

Research Report, No.108, 2021 (Total 6173) 2021-5-6

Abstract: The 5th Plenary Session of the 19th CPC Central Committee has noted that work needs to be done to flesh out supporting system for financial innovation and to accelerate the scaled and industrialized application of new technologies. It is a beneficial exploration to launch securitization of intellectual property rights (IPR) to enable financial sectors to support the real economy’s innovation and enhance the effectiveness of technological achievements transformation. It is also conducive to solving the fund-raising problems facing technological innovation enterprises. At present, the trial practice of IPR securitization, being one of the focal points in the construction of IPR trading system and the pilot projects of sixth batch of free trade zone reform, is advanced nationwide. But it needs to be pointed out that there still exist some obstacles and risks in the promotion of such trials which can be narrowed down to the following points. One, the special attribution of IPR will induce potential risks; two, high-value portfolios are yet to be increased in light of the relatively weak support from its transaction platform; three, relevant laws and regulations call for further enhancement to make the supervision become more targeted. To this end, this paper has offered the following policy options. Under the guidance of serving the Science and Technology Innovation Board (Star Market) in the short and mid-term, efforts need to be made to prevent financial risks of intellectual property rights based on national intellectual property rights strategy. And future work needs to focus on key and core technological innovation and strengthen legislative construction and targeted supervision with the aim of fostering high-quality projects with high-value portfolios.

Keywords: intellectual property rights (IPR), securitization, innovation