지식재산권에 대한 담보권설정과 자산유동화 - 특허권을 대출에 활용하기 위한 측면에서 일괄담보 -

Abstract

This article analyzes the point that the method for setting appropriate collateral varies depending on the type of intellectual property rights due to their differing characteristics. Intellectual property securitization is the structure that a company holding intellectual property rights transfers its intellectual property rights to a special purpose company (SPC), which then issues securities based on the cash flow from the intellectual property royalties. Securitization is suitable for copyrights and trademarks. However, for patents, there are challenges in securitization due to the possibility of invalidation of a patent and difficulties in valuation. In actual cases of intellectual property securitization, there are many related to copyrights and trademarks. To activate finance utilizing patents, the introduction of a universal security system is necessary. A universal security refers to a framework where a debtor's entire asset portfolio is pooled together to establish a comprehensive collateral. In the case of patents, since multiple related patents are required to produce a single product, the introduction of the universal security interests system is necessary. The creation of security interests in patent rights, therefore, becomes meaningful when it allows for universal security interests, encompassin
 other personal properties. In cases where the debtor (security provider) i s a company, it is necessary to consider registering movables security interests, receivables security interests and universal security interests all in the company registration, similar to the UK system. Furthermore, it is important to consider the flexible approach of U.S. case law, such as Moldo v. Matsco, Inc. , which acknowledged the effectiveness of security interests without registration in the patent registry, once universal security interests, including patent rights, are registered.