The earliest practice of intellectual property securitization in the world is music copyright securitization. Under the planning of Pullman Group, David Bowie, a famous British rock star, securitized the expected copyrights of 25 records recorded before 1990 (including the recording rights and copyrights of 300 songs), and issued Bowie bonds on 1997, raising 55 million dollars for him. The successful issuance of Bowie bonds has played a good demonstration role and greatly broadened the operational horizon of asset securitization. From the practice of foreign countries, the basic assets of intellectual property securitization have been very extensive. From the initial securitization of music copyright, it has now expanded to intellectual property rights related to cultural industries such as electronic games, movies, entertainment, performing arts and theme parks, as well as fashion brands, pharmaceutical products patents, semiconductor chips and even patent litigation. Although the share of intellectual property securitization in the whole asset securitization market is still very small, it has shown great development potential and trend. 1997, the total amount of intellectual property securitization transactions was $380 million, reaching165438+$37 million in 2000.
In the era of knowledge economy, the proportion of intangible assets in the value of enterprise assets has increased from 20% to 70% in the past 20 years, and knowledge assets have gradually replaced traditional physical assets and become the core competitiveness of enterprises. This requires enterprises to shift the focus of financing from physical assets to knowledge assets. Securitization of intellectual property conforms to this historical trend, providing a brand-new financing method based on intellectual property for intellectual property owners, effectively integrating intellectual assets with financial capital, thus realizing a virtuous circle of capital demand and supply in the process of independent innovation. According to the estimate of Pullman Group, the global intellectual property value is as high as 1 trillion dollars. With the increasing proportion of intellectual property-related industries in the economies of countries around the world and the strengthening of the commercialization of intellectual property rights, the value of global intellectual property rights will continue to grow. This provides rich basic assets for intellectual property securitization. It can be predicted that the prospect of intellectual property securitization is very broad, and it will become the main force in the future asset securitization field.