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題名 智慧財產融資與證券化研究
作者 王偉霖
貢獻者 國立政治大學智慧財產研究所
行政院國家科學委員會
關鍵詞 資產證券化;真實買賣原則;智慧財產權證券化;破產隔離;尚待履行
     之雙務契約
asset securitization; true sale; securitization of intellectual property;
     bankruptcy remote; executory contract
日期 2009
上傳時間 24-Oct-2012 15:21:58 (UTC+8)
摘要 智慧財產權證券化係承襲資產證券化之基本架構,肇始於1960 年代美國房地產市場,一直到1997 年始首度運用至智慧財產權領域。若從資產證券化市場過去榮景觀之,吾人有理由相信智慧財產權證券化亦將成為重要的金融商品及成為中小企業有力融資之管道。然因兩者基礎資產特性所致(智慧財產價值不易確定、不易管理等因素),智慧財產權證券化至今仍有某些困難尚待克服。主要原因之一乃在於智慧財產權證券化現金流量之可預測性及穩定性較不易掌控,導致投資人寧可選擇其他商品。因此強化現金流量之穩定性與增加其可預測性為推動智慧財產權證券化之重要條件。本文以此觀點探討智慧財產權證券化的幾個法律問題,包括是否制定專法、目前智慧財產權設定擔保及登記制度有無改進空間,以及權利人破產時破產管理人之處置對於證券化之影響等,以比較法的方式探討智慧財產權證券化較成熟的美國市場之相關規定,以為台灣的相關法規提出建議,希冀對於台灣智慧財產權證券化的推動有所助益。
Intellectual property (IP) securitization was originated from asset securitization, which covers from the U.S. real estate market in 1960s, and introduced to the IP field initially first in 1997. In aspect of the prosperous market of asset securitization in the past, it is reasonably convincing that IP securitization will also play an important role as a financial instrument as well as a powerful financing tool for small and medium enterprises. However, based on different characteristics of tangible and intangible assets, IP is of relatively unstable value and more difficult management, creating obstacles in IP securitization. Current obstacle may come from lesser stability and predictability of cash flow in IP securitization, which result in investors‟ preference in other financial instruments. Therefore, the increase in stability and predictability of cash flow shall be critical to the motivation of IP securitization. This study is to investigate several legal issues in IP securitization, such as specialized legislation, improvement for creation of security and registry system in IP rights, and influences on securitization by bankruptcy trustee‟s decision at originator‟s bankruptcy, etc. The discussion will explore relevant regulations in the mature market of U.S. IP securitization, and make comparison and advices to relevant domestic regulations for greater motivation of IP securitization in Taiwan.
關聯 學術補助
研究期間:9808~ 9907
研究經費:547仟元
資料類型 report
dc.contributor 國立政治大學智慧財產研究所en_US
dc.contributor 行政院國家科學委員會en_US
dc.creator (作者) 王偉霖zh_TW
dc.date (日期) 2009en_US
dc.date.accessioned 24-Oct-2012 15:21:58 (UTC+8)-
dc.date.available 24-Oct-2012 15:21:58 (UTC+8)-
dc.date.issued (上傳時間) 24-Oct-2012 15:21:58 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/53997-
dc.description.abstract (摘要) 智慧財產權證券化係承襲資產證券化之基本架構,肇始於1960 年代美國房地產市場,一直到1997 年始首度運用至智慧財產權領域。若從資產證券化市場過去榮景觀之,吾人有理由相信智慧財產權證券化亦將成為重要的金融商品及成為中小企業有力融資之管道。然因兩者基礎資產特性所致(智慧財產價值不易確定、不易管理等因素),智慧財產權證券化至今仍有某些困難尚待克服。主要原因之一乃在於智慧財產權證券化現金流量之可預測性及穩定性較不易掌控,導致投資人寧可選擇其他商品。因此強化現金流量之穩定性與增加其可預測性為推動智慧財產權證券化之重要條件。本文以此觀點探討智慧財產權證券化的幾個法律問題,包括是否制定專法、目前智慧財產權設定擔保及登記制度有無改進空間,以及權利人破產時破產管理人之處置對於證券化之影響等,以比較法的方式探討智慧財產權證券化較成熟的美國市場之相關規定,以為台灣的相關法規提出建議,希冀對於台灣智慧財產權證券化的推動有所助益。-
dc.description.abstract (摘要) Intellectual property (IP) securitization was originated from asset securitization, which covers from the U.S. real estate market in 1960s, and introduced to the IP field initially first in 1997. In aspect of the prosperous market of asset securitization in the past, it is reasonably convincing that IP securitization will also play an important role as a financial instrument as well as a powerful financing tool for small and medium enterprises. However, based on different characteristics of tangible and intangible assets, IP is of relatively unstable value and more difficult management, creating obstacles in IP securitization. Current obstacle may come from lesser stability and predictability of cash flow in IP securitization, which result in investors‟ preference in other financial instruments. Therefore, the increase in stability and predictability of cash flow shall be critical to the motivation of IP securitization. This study is to investigate several legal issues in IP securitization, such as specialized legislation, improvement for creation of security and registry system in IP rights, and influences on securitization by bankruptcy trustee‟s decision at originator‟s bankruptcy, etc. The discussion will explore relevant regulations in the mature market of U.S. IP securitization, and make comparison and advices to relevant domestic regulations for greater motivation of IP securitization in Taiwan.-
dc.language.iso en_US-
dc.relation (關聯) 學術補助en_US
dc.relation (關聯) 研究期間:9808~ 9907en_US
dc.relation (關聯) 研究經費:547仟元en_US
dc.subject (關鍵詞) 資產證券化;真實買賣原則;智慧財產權證券化;破產隔離;尚待履行
     之雙務契約
en_US
dc.subject (關鍵詞) asset securitization; true sale; securitization of intellectual property;
     bankruptcy remote; executory contract
-
dc.title (題名) 智慧財產融資與證券化研究zh_TW
dc.type (資料類型) reporten