我国专利资产证券化法律制度探析

发布时间：2018-06-10 15:44

本文选题：专利资产证券化 + 特殊目的机构　；参考：《广西师范大学》2017年硕士论文

【摘要】：在日益提倡创新科技的今天,经济的发展离不开创新的投入,而作为创新的结果,专利一直被企业视为制胜的利器,越来越多的企业选择了专利发展的道路,由此产生的结果是专利数量的急剧增加,以及优质专利的急需转化。专利优势要转化为生产优势,必须有资金的支持。然而,时下不少企业,特别是中小型企业资金严重缺乏。因此,通过专利资产融资方式解决企业资金短缺意义重大。而与传统的融资方式相比,资产证券化作为新兴的融资手段具有融资风险小,所融资金数额大等传统融资手段所不具备的优点,因此,从诞生之日起资产证券化就深受企业关注。专利资产证券化作为证券化的独特形式在国外已经有过大量实践,而在我国,专利资产证券化还在摸索阶段。本文着重对于我国专利资产证券化的发展状况以及专利资产证券化法律制度所面临的实际问题进行分析,并在此基础上借鉴域外专利资产证券化发展的经验以及法律规定,对我国专利资产证券化法律制度的完善贡献进行探讨。本文共分成五个部分:第一部分是对专利资产证券化以及相关概念进行阐述,其中主要介绍了资产证券化的概念、专利资产证券化的概念以及专利基础资产的概念。资产证券化与专利资产证券化是一般与特殊的关系,对于专利资产证券化的理解需要从资产证券化的角度出发,而在专利资产证券化的实际运作过程中也是借鉴资产证券化的基本制度。专利资产证券化源于美国,其产生是美国资本市场成熟的表现,也是资产证券化发展到一定过程的产物。本部分除了阐述基本概念之外,还对专利资产证券化的参与主体以及基本流程做了相应介绍,专利资产证券化的参与主体包括专利资产发起人、特殊目的机构等。第二部分是对我国专利资产证券化的现状进行简单分析,本部分从两个角度出发,首先是谈到我国专利资产证券化发展的基础,所谓的发展基础也即我国专利资产证券化所面临的实际社会状况,发展基础可以看出我国专利资产证券化发展前景广阔,这些基础有多方面,有资本市场的成熟,有专利本身的发展,有法律制度的逐渐规范,还有政策的扶持,这些都是我国专利资产证券化的发展基础,更反应了我国专利资产证券化所面临的实际状况。其次是谈到我国专利资产证券化法律制度的现状,本文的中心点是对于我国专利资产证券化法律制度进行研究,而我国目前对于专利资产证券化并未采取专门的法律规定,而是通过不同的法律规范,例如《公司法》、《证券法》等进行调整,而对于现有专利资产证券化法律制度状况的分析中主要涉及的是关于特殊目的机构的法律规定、专利资产转移过程中的法律规定、破产法律规定等。第三部分是对我国专利资产证券化法律制度所存在的问题进行分析,本部分分为五大点,第一点是关于特殊目的机构的法律制度所存在的问题,其中主要涉及特殊目的机构的设立存在的障碍、特殊目的机构的破产存在的漏洞;第二点是专利基础资产转移过程中所存在的问题,其中主要包括“真实销售”标准的缺失、基础资产转移中的通知难、未来债权的转让尚未确认、以及禁止转让条款尚未打破,“真实销售”最为专利资产证券化的核心步骤,是实现破产风险隔绝的前提,也是保护投资安全的重要措施,其标准的确定意义重大;第三点是专利资产评估体系所存在的问题,专利资产需要收到价值评估,而现有的评估体系所采用的评估方法主要是市场法、成本法、收益法,这三种方法各有特点但是不足以对专利资产价值进行客观正确的判断;第四点是我国专利资产证券化在证券发行过程中所存在的问题;第五点是我国专利资产证券化在税务制度上存在的问题。第四部门是对域外的专利资产证券化的法律制度进行梳理与借鉴,其是对第三部分中所提到的问题针对性地寻找域外规定,通过对于域外法律规定的了解来为我国专利资产证券化法律制度的完善提出相应的意见。本部分也分为五点,分别对应的是第三部分中做提到的问题,其中包括特殊目的机构的域外法律规定、专利资产转移的法律规定、信用体系的法律规定、证券发行的法律规定、税务的法律规定。第五部分是对我国专利资产证券化法律制度的完善,也是本文的重点内容。本部分首先是对我国专利资产证券化的立法模式选择提出了建议,建议选择分散式立法模式,分散式立法模式难度较小与现有的法律体系冲突较小因此较为适宜;在立法模式的谈论后是对我国特殊目的机构的完善,其中包括了特殊目的机构的设立门槛的降低、特殊目的机构的独立性的要求、以及对于特殊目的机构破产要进行必要的限制,完善意见主要针对于现有公司法、破产法中所存在的问题;在专利资产转移的法律制度完善中,首先是对于“真实销售”标准的确定,本文建议要制定明确的标准来规范资产转移,其次是对于专利资产转移过程中的通知难问题本文提出要对现有通知规定作出一定调整,提出登记通知的构想,除此之外第五部分还就专利资产转移过程中所存在的禁止转让条款做了变通规定,不建议一味地进行限制;在对于专利资产价值评估的完善中本文提出了新的评估方法实物期权法,与之前的评估方法一起形成完善的评估体系;在对于证券发行的法律制度完善,本文建议要修改现有证券法的发行条件,为专利资产证券化作特殊规定,形成多元化的发行体系;在对于税务问题,本文建议继续推出对于专利资产证券化的税务优惠,减少专利企业的负担,对于不必要征税环节进行免征或者退税。
[Abstract]:In today's increasingly advocating innovation and technology, economic development can not be separated from innovation, and as the result of innovation, patents have been regarded by the enterprise as a winning weapon. More and more enterprises have chosen the road of patent development. The result is the sharp increase in the number of patents and the urgent need for transformation of high quality patents. Patent advantage needs to be made. However, many enterprises, especially small and medium enterprises, have a serious shortage of funds. Therefore, it is of great significance to solve the shortage of funds through the financing of patent assets. And compared with the traditional financing methods, the asset securitization is a new financing means with small financing risk and financing. Because of the advantages of the traditional financing means such as the large amount of gold, the asset securitization is deeply concerned from the day of its birth. As a unique form of securitization, the patent asset securitization has already had a great deal of practice abroad. In our country, the patent asset securitization is still in the stage of touch. This article focuses on the patent asset securities of China. The present situation of the development and the actual problems faced by the legal system of patent asset securitization are analyzed, and on this basis, we can draw lessons from the experience of the development of the patent asset securitization and the legal provisions, and discuss the perfect contribution of the legal system of the patent asset securitization in China. This article is divided into five parts: the first part is the special purpose. The concept of asset securitization and the concept of asset securitization, the concept of patent asset securitization and the concept of patent base assets are mainly introduced. The general and special relationship between asset securitization and patent asset securitization is the general and special relationship. The understanding of patent securitization needs to be from the angle of asset securitization. In the actual operation of the patent asset securitization, it is also the basic system for reference to asset securitization. The patent asset securitization is derived from the United States, which is the result of the maturity of the American capital market and the product of the development of asset securitization to a certain process. In addition to the basic concepts, the patent asset securitization is also the securitization of patent assets. The participation subject and the basic process are introduced accordingly. The participants of the patent asset securitization include the sponsor of patent assets and the special purpose institution. The second part is a simple analysis of the status of the patent asset securitization in China. From the two angles, the first part is about the foundation of the development of China's patent asset securitization. The basis of the so-called development is also the actual social situation of China's patent asset securitization, and the development foundation can see that China's patent asset securitization has a wide development prospect. There are many aspects, such as the maturity of the capital market, the development of the patent itself, the gradual standardization of the legal system, and the support of the policy. These are all of me The development foundation of national patent asset securitization is more responsive to the actual situation of patent asset securitization in China. Secondly, it talks about the status of the legal system of patent asset securitization in China. The central point of this article is to study the legal system of patent asset securitization in our country, while China has not adopted the patent asset securitization at present. Take special legal provisions, but through different legal norms, such as "Company Law >", "Securities Law >" and other adjustments, and the analysis of the existing legal system of the existing patent asset securitization is mainly related to the legal provisions of special purpose institutions, the legal provisions in the process of the transfer of patent assets, the provisions of the bankruptcy law, and so on. Third Part of the analysis of the problems existing in the legal system of China's patent asset securitization, this part is divided into five major points, the first is the problems existing in the legal system of special purpose institutions, which mainly involve the obstacles to the establishment of special purpose institutions, the loopholes in the bankruptcy of special organizations, and the second is the patent. The problems existing in the process of basic asset transfer include the lack of the standard of "real sale", the difficulty of the notice in the transfer of basic assets, the unconfirmation of the transfer of the future creditor's right, and the prohibition of the transfer clause, the core step of the "real sale" the most patent asset securitization, which is the front of the realization of the isolation of the bankruptcy risk. It is also an important measure to protect the security of investment, and its standard is of great significance. The third point is the problems existing in the patent asset evaluation system. The patent assets need to be evaluated, and the existing evaluation methods are mainly the market law, the cost method, the income method, and these three methods have their own characteristics but not sufficient. The value of patent assets is judged objectively and correctly; the fourth point is the problems existing in the process of China's patent asset securitization in the process of securities issuance; the fifth point is the problem of the existence of China's patent asset securitization in the tax system. The fourth department is the legal system of the patent assets securitization outside the region. The questions mentioned in the three part are aimed at finding out the foreign regulations and the relevant opinions on the perfection of the legal system of Chinese patent asset securitization through the understanding of the foreign laws. This part is also divided into five points, respectively, corresponding to the questions mentioned in the third parts, including the extraterritorial laws of the special purpose institutions. The provisions, the legal provisions of the transfer of patent assets, the legal provisions of the credit system, the legal provisions of the issuance of securities, the legal provisions of the tax, the fifth part is the perfection of the legal system for the securitization of patent assets in China, and also the key content of this article. It is suggested that the decentralized legislative model should be chosen, and the difficulty of the decentralized legislative model is less difficult to conflict with the existing legal system, so the discussion of the legislative model is the perfection of the special purpose institution in China, including the reduction of the threshold for the establishment of special purpose institutions, the requirement of the independence of special purpose institutions, and the The insolvency of special purpose institutions should be restricted. The improvement of the opinions is mainly aimed at the existing problems in the existing company law and the bankruptcy law. In the perfection of the legal system of the transfer of patent assets, the first is the determination of the "real sales" standard. This article suggests that a clear standard should be formulated to regulate the transfer of assets, and the second is the patent. In the course of the transfer of assets, this paper proposes to make some adjustments to the existing notice regulations and put forward the concept of registration notice. In addition, the fifth part also makes a variable provision on the prohibition of transfer clause in the process of the transfer of patent assets, and does not suggest that the limit be made blindly, and the evaluation of the value of patent assets is finished. In this paper, a new method of real option is proposed, and a perfect evaluation system is formed with the previous evaluation method. In the case of the perfection of the legal system of securities issuance, this paper proposes to modify the conditions of the existing securities law, make a special provision for the patent asset securitization, and form a diversified distribution system. In this paper, we suggest that the tax incentives for patent assets securitization continue to be introduced, the burden of patent enterprises are reduced, and exemptions or tax rebates for unnecessary taxing are made.
【学位授予单位】：广西师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287

【相似文献】