知识产权融资的法治研究与建议

发布时间：2018-03-11 18:01

本文选题：知识产权　切入点：融资担保　出处：《华东政法学院》2006年博士论文　论文类型：学位论文

【摘要】： 二十年前,知识产权还只是学校法学教育中点缀的花瓶;在企业交易中,它也不过只是附带一提的附属品。然而随着整体产业结构的变化,凭借传统制造业获取商业利润的产业模式,逐渐从先进国家淡出,取而代之的是以知识为主的科技产业,以及各种类型的文化创意、民生休闲产业。在这个时候,大家突然发现整体商业价值的重心,已经从土地、设备等资本资源,转移到知识产权上。彷佛突然之间,知识产权变成现代商业社会中交易最重要的标的。在1970年代,SP500企业的市值与其账面价值(market-book ratio)的平均值约为1,然而到了2000年时,该项平均值约为6;换言之,在每六元的市价中,无形资产的价值即占了五元,无形资产占了公司市值的83.3%。知识产权已经成为公司的主要资产之一,它不再因为缺乏如土地厂房般的实体而受人忽视,相反的,知识产权在目前的商业与经济时代中,已经越来越具体,虽然摸不到,但是知识产权本身所表彰的经济利益,却已经具体到没有人能忽视到它的存在。然而许多问题也正从知识产权背后所可能隐藏的巨大经济意义而产生。在许多先进国家中,已逐渐从传统的旧经济时代,转向成为“知识经济”时代,因此传统上以工厂设备、土地、劳力,以及原物料供应等资产之重要性,在企业体运作的过程中,已经从第一线退到第二线,反倒是利用人类思想、技术或是创意的知识产权,成为许多企业获利的主要来源。因此如能有效推动知识经济的发展,同时充分掌握知识产权的特质,利用知识产权做为媒介,应可有助于中国摆脱传统制造代工的经济模式。知识产权本身具有高度,而且是可被量化的具体经济价值,已经是毫无疑问的一件事。有许多知识产权在中国各个技术交易市场上,红火的进行交易,藉由出售原有的知识产权为原权利人赚进大把钞票,也是不争的事实。但是利用知识产权具体求现,换取现金,似乎除了彻底买卖移转知识产权之外,想要利用知识产权在金融市场上取得其它的利益,例如作为担保品向银行进行贷款,或是将知识产权视为如同土地、厂房一般的资产,透过资产证券化的方式募集资金,在中国是一件法律虽然允许,但金融实务上乏人问津的一种标的。既然知识产权就如同企业所有的其它具体资产一般,具有具体的经济价值,因此就理论上而言,利用资产所代表的利益换取现金收益,就金融原则而言是可行的。例如公司可以透过买卖土地换取现金,也可以将该笔土地作为担保,向银行贷款,换取现金。所有的资产对公司而言都代表着特定经济上的利益,然而相较于有形的土地、厂房、原物料等资产来说,知识产权此类无形资产的变现性似乎是最低的,彷佛除了买卖之外,别无其它变现的方法。但尽管如此,美国、欧洲,以及台湾地区都已经开始透过相关法规的拟订,具体的实践并体现知识产权所代表的经济价值。从早期开始的利用知识产权做为融资担保的标的,发展到近几年来以知识产权所能产生的现金流量作为基础,发行有价证券。改革开放以来,除了经济活动渐次发达提升之外,各项法制建设工作也正在积极的规划进行中。自从商标法、专利法、著作权法、反不当竞争法、植物新品种保护条例、集成电路布图设计保护条例、知识产权海关保护条例等一系列关于知识产权保护的法规陆续出台,至此可谓已初步建立具体的知识产权法律体系。透过这样一个法律体系的保护,知识产权才能体现出其作为一种受法律保障之利益。如此一来,知识产权属于财产权的本质会更加明显,降低了权利人对于知识产权的维护成本。此外,近几年来,在上海、武汉等地陆续成立的技术交易市场,各类知识产权以及其它技术与其它无形资产透过该种市场的交易量,逐年攀升,因此将知识产权本身做为一种商品进行买卖,对于中国民众而言,并不是一件新鲜事。因此利用知识产权为基础所衍生出其它的金融操作模式,例如以知识产权作担保,向银行贷款,或是进行所谓的知识产权证券化等行为,对于中国民众来说,应当也是一件容易理解、习惯与接受的方式。因此,中国如能把握时机,审酌中国国情之需要,顺势研拟以知识产权做为融资担保或是证券化之标的,不但能大大降低相关金融活动摸索试验的风险,也可有效刺激企业对于本身所拥有知识产权的利用,非但对企业本身创造利益,也可以对中国整体经济发展做出贡献。因此激起本文针对如何规划以及规范以知识产权之利益做为融资或是证券化之基础资产等相关法律议题,作为本文探索的主轴。大抵而言,中国企业对外募集资金的方式不外乎是以向融资者取得贷款、发行公司债、依法进行公开上市、对特定对象进行私募,以及吸引创投资金(venture capital,中国也称之为风险投资)等几种。这几种对外募集资金的方式中,可能需要企业提供担保物的模式,就是第一种,向融资者取得贷款时。所有的融资者几乎都会要求借款的企业提供担保,无论是动产、不动产,或是由第三人提供信用担保。从本文先前的研究已经得知,依照美日等国家的运作模式,除了银行之外,私人的财务金融公司,也可以进行此类服务的提供,接受企业利用知识产权做为担保,而给予资金。因此,首先要检讨的是,以目前中国的法制规划中,能够接受知识产权做为融资担保,并且给予贷款的机构,有没有任何资格或是条件上的限制。中华人民共和国担保法第七十五条第三款规定:“依法可以转让的商标专用权、专利权、著作权中的财产权可以质押。”此一条文已经成为国内关于利用知识产权得做为担保标的的共识。从这一条条文中,可以得出两个重点:第一,以目前中国法制而言,知识产权可以作为融资担保的标的,而且法律明文承认得作为知识产权的标的,只有可以转让的商标专用权、专利权,以及著作财产权。第二,知识产权提供融资担保的方式是设定质权。在这样一种根本原则性的规范条文之后,担保法第七十九条又规定了有关利用知识产权进行融资担保的程序性规范:“以依法可以转让的商标专用权、专利权、著作权中的财产权出质的,出质人与质权人应订立书面合同,并向其管理部门办理出质登记。质押合同自登记出质之日起生效。”在这样的法律基础上,国家版权局、工商行政管理局以及先前的专利局,先后颁布了著作权质押登记条例、商标权质押登记条例,以及专利权质押登记条例。看起来中国对于利用知识产权进行融资担保的问题,已经在实质上做出了肯定的规范,同时也做出了程序上配套规定的要求,然而这样几条规定,以及几个质押登记条例,其实是不足以规范融资者接受知识产权做为融资担保需求的。一般学者在研究关于知识产权出质的问题时,多从传统民商法的概念来加以研究说明,但是却忽略了知识产权在本质上异于传统物权以及债权,而是属于现代法律学上一种新的重要的财产权利。本文即针对利用知识产权设定质权做为融资担保的几项重要议题,并且在本文各章节的研究基础之上,草拟《知识产权融资担保法》草案,以提供各界参考。
[Abstract]:Twenty years ago, the intellectual property law education in school is just embellishment vase; in business transactions, it is only incidentally accessories. However with the change of the structure of the whole industry, by virtue of the traditional manufacturing industry to obtain commercial profit pattern, gradually fade out from the advanced countries, instead of focusing on knowledge of science and technology the industry, as well as various types of cultural and creative leisure industry, people's livelihood. At this time, we suddenly discovered that the overall focus of commercial value, already from the land, capital resources and equipment, transfer to the intellectual property rights. It suddenly becomes the most important subject of intellectual property transactions of the modern commercial society. In 1970s, SP500 company the market value and book value (market-book ratio) the average value is about 1, but by 2000, the average value is about 6; in other words, in each of the six yuan price of intangible assets. The production value is accounted for five yuan, accounting for intangible assets of the company's market capitalisation of 83.3%. intellectual property rights has become one of the major assets of the company, it is no longer because of the lack of land plant like entity and neglected by people, on the contrary, the intellectual property rights in the current business and economy, has been more and more specific, although touch no, but the intellectual property itself for economic interests, but has been specific to no one can ignore it.
The great economic significance but many problems are also from the intellectual property behind may be hidden and produce. In many advanced countries, has gradually shifted from the traditional old economy, to become the era of "knowledge economy", so the traditional to factory equipment, land, labor, and the importance of raw material supply in the process of asset. The operation of the enterprise, already from the first line to the second line, it is the use of human thought, technology or creative intellectual property, has become a major source of profit. Many enterprises so as to effectively promote the development of knowledge economy, and fully grasp the characteristics of intellectual property rights, the use of intellectual property rights as the media, should be China helps get rid of the traditional manufacturing economy. Intellectual property itself is highly, and can be quantified by specific economic value, is a matter of no doubt. There are a lot of intellectual property Right in the China various technical trading market, flourishing trade by selling the original intellectual property rights making a lot of money for the rights of indigenous people, is an indisputable fact. But the use of intellectual property rights for specific, in exchange for cash, it seems that in addition to complete sale transfer of intellectual property rights, to use the intellectual property to get other interests in financial markets, such as collateral to bank loans, or intellectual property as land, plant general assets, through the way of asset securitization to raise funds in China is a law allows, but the financial practice on the lack of a standard.
Since intellectual property is like other enterprise specific assets all in general, with specific economic value, so in theory, the use of assets represent the interests of cash income, it is feasible to financial principles. For example the company can through the sale of land in exchange for cash, can also be the amount of land as collateral to bank loans., in exchange for cash. All assets for the company to represent specific economic interests, but compared to the tangible land, plant, materials and other assets, intellectual property of such intangible assets become the seems to be the lowest, as in the sale, no other cash. But even so, the United States, Europe, and Taiwan have begun through the relevant laws and regulations to practice and reflect the intellectual property rights represent economic value. The beginning of the use of intellectual property from the early Right is the sign of the financing guarantee, to the development of cash flow in recent years with the intellectual property created as a basis for issuing securities. Since the reform and opening up, in addition to economic activities gradually developed to enhance the construction of legal system, the work is also actively planning. Since the trademark law, patent law, copyright right law, anti unfair competition law, regulations on the protection of new plant varieties, regulations on the protection of integrated circuit layout design, the Customs Protection of intellectual property rights and a series of regulations on protection of intellectual property rights laws and regulations have been introduced, so far it has been established with the legal system of intellectual property protection. Through such a legal system, intellectual property rights to reflects its interests as a protected by law. As a result, the nature of intellectual property belongs to property rights will be more obvious, reduces the maintenance cost of human rights for intellectual property rights.
In addition, in recent years, in Shanghai, Wuhan and other places have set up the technology market, all kinds of intellectual property and other technology and other intangible assets through the trading volume, the market is rising year by year, so the intellectual property itself as a commodity trading, for China people, is not a new therefore. The use of intellectual property rights as the basis derived from other financial operation mode, such as intellectual property as collateral, to bank loans, or Intellectual Property Securitization Act called for China, people should also be easy to understand, habits and accept. Therefore, China can grasp time trial needs action China conditions, homeopathy research intends to intellectual property rights as a financing guarantee or securitization subject, not only can greatly reduce the risk of financial activities related experiments, also can effectively stimulate Companies for the use of their intellectual property rights, not only to the enterprise itself to create interest, can also contribute to the overall economic development. Therefore Chinese aroused according to planning and specification in the interests of intellectual property rights for financing or securitization of assets and other related legal issues, as the exploration of the spindle.
Probably, Chinese foreign enterprises to raise funds the way is nothing more than to get loans to financing, issuing corporate bonds, according to the law of public, private to the specific object, as well as to attract venture capital (also known as venture capital, Chinese venture capital) several. These foreign funds raised in the way, may need to provide collateral mode, is the first, to obtain loans financing. All financing will provide almost guaranteed loan business, whether it is real estate, real estate, or provide credit guarantee by third. From the previous research has learned that, in accordance with the operation mode of the US and Japan other countries, in addition to banks, private financial companies can also provide such services, accept the use of intellectual property as collateral, and grant funds. Therefore, first of all to review is to. In the legal planning of the former China, there are no qualifications or restrictions on the institutions that can accept intellectual property as a financing guarantee and to give loans.
People's Republic of China security law seventy-fifth paragraph third: "the right to exclusive use of trademarks, patent rights can be transferred according to law, the copyright in the property right can be pledged. This article has been on the use of intellectual property as guaranty's consensus. From this article, we can draw two points: first at present, China legal system, intellectual property rights can be used as the sign of the financing guarantee, and the law expressly acknowledge as the intellectual property rights of the subject, right, trademark can only transfer the patent right, copyright and intellectual property rights. Second, provide financing guarantee mode is a pledge. After such a fundamental the principle of regulation, the guarantee law seventy-ninth and the relevant provisions of the financing guarantee of the intellectual property right procedural norms:" transferable according to law are the exclusive right to use a trademark, patent Right, copyright pledge, the pledger and the pledgee shall conclude a written contract, and to the management department for the registration of pledge. The pledge contract shall come into force as of the date of registration of the matter. "In this legal basis, the national copyright administration, administrative Industrial and Commercial Bureau and previous Patent Bureau, has promulgated the copyright Pledge Registration Ordinance, regulations of registration of trademark right pledge, and patent pledge registration ordinance. Chinese looks for financing guarantee using intellectual property rights, has made certain norms in essence, but also made the program supporting the requirements, but so few rules, and several pledge registration regulations, in fact, is not enough to regulate the financing of intellectual property rights to accept the financing guarantee demand. Scholars in the study on quality of intellectual property rights issues, from the traditional concept of civil law. Research, but ignored the essence of intellectual property is different from the traditional real right and creditor's rights, but to the modern legal science is a new and important property rights. This paper is to use the intellectual property pledge to do several important issues for financing guarantee, and on the basis of each chapter of this article, draft "the draft secured financing of intellectual property law", in order to provide reference of all walks of life.

【学位授予单位】：华东政法学院
【学位级别】：博士
【学位授予年份】：2006
【分类号】：D912.29;D913

【引证文献】