商标资产证券化的实施困境及对策分析

The Implementation Dilemma and Countermeasure Analysis of Trademark Asset Securitization

知识产权证券化是知识产权金融发展的产物。世界上最早的知识产权资产证券化实践源自美国的“鲍伊债券”,在近年来的政策大力支持下,我国知识产权证券化也在快速发展。商标资产证券化正是知识产权资产证券化的组成部分之一,是一种优质的融资方式。然而,目前我国的商标资产证券化仍面临着我国社会信用体系不完善、企业商标战略和资本运作能力欠缺等现实困境。这些困境可归结于两个方面的原因,即商标权自身特性和知识产权资产证券化自身的法律问题。其中,明确商标权自身特性将对帮助我国商标资产证券化实践走出困境起到至关重要的作用。

Intellectual property securitization is the product of intellectual property finance development. The earliest practice of securitization of intellectual property assets in the world originated from the “Bowie bond” in the United States. In recent years, with the strong support of policies, China’s intellectual property securitization is also developing rapidly. Trademark asset securitization is one of the components of intellectual property asset securitization, and it is a high-quality financing method. However, at present, the securitization of trademark assets in our country still faces the realistic difficulties such as the imperfect social credit system, the lack of trademark strategy and the lack of capital operation ability. These difficulties can be attributed to two reasons, that is, the characteristics of trademark rights and the legal problems of intellectual property securitization. Among them, it is very important to clarify the characteristics of trademark right to help the practice of trademark asset securitization out of the predicament.