| Co-Investigator(Kenkyū-buntansha) |
HIRUMA Fumihiko Waseda University, Faculty of Commerce, Professor, 商学学術院, 教授 (00063793)
SAKURAI Hisakatsu Kobe University, Graduate School of Business Administration, Professor, 大学院・経営学研究科, 教授 (10127368)
FUJITA Akiko Meiji Gakuin University, Faculty of Commerce, Professor, 経済学部, 教授 (20227599)
WATANABE Tsuyoshi Fukuoka University, Faculty of Commerce, Associate Professor, 商学部, 助教授 (30269493)
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| Budget Amount *help |
¥3,700,000 (Direct Cost: ¥3,700,000)
Fiscal Year 2005: ¥1,000,000 (Direct Cost: ¥1,000,000)
Fiscal Year 2004: ¥2,700,000 (Direct Cost: ¥2,700,000)
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| Research Abstract |
In this research the following matters were examined regarding securitization of intellectual property : (1)the validity of securitization as a business scheme for utilizing intellectual property ; (2)the problem of the legal scheme whether to consider securitization of intellectual property based on the appropriate law ; (3)the many problems involving true sale of intellectual property ; (4)the taxation on capital gains problem of intellectual property, together with the problem of accounting treatment ; and (5)the valuation model of intellectual property, etc.
Regarding point no.one, many things were considered as a business scheme which utilize intellectual property. However, we proved by research that the most effective scheme is a money-raising one by intellectual property, which is the securitization of intellectual property.
Regarding point no.two, we clarified the securitization schemes based on the trust law and on the law regarding securitization of specified assets. And furthe
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r, we considered the securitization of intellectual property focusing on the brand and patent right on the assumption of each legal scheme. As a result, we reached the conclusion that both of the intellectual properties could be securitized, and also that it is easy to use the way of the scheme based on the trust law.
Regarding point no.three, we pointed out that the necessary condition for forming securitization of intellectual property was that both the cash flow of the whole company which holds intellectual property, and the cash flow produced from the intellectual property which the company holds, should be isolated. And further, we pointed out that a valuation model of intellectual property with high objectivity and reliability is required, in order to fulfill the necessary condition.
Regarding point no.four, in order to activate the securitization of intellectual property, we pointed out that it was necessary to solve the problem of taxation on capital gains produced from transfer of the intellectual property left in trust. And further, in order to solve the problem, we proposed that it was possible to avoid taxation on capital gains by considering that the transfer of intellectual property is a financial transaction, carrying out the same accounting treatment as sale and leaseback dealings.
Regarding point no.five, we examined the Ministry of Economy, Trade and Industry model as a valuation model of a brand, and also examined the PatVM of the Intellectual Property Evaluation Study Group as a valuation model of patent right. As a result, we have arrived at the conclusion that it has been and presently the most suitable valuation model for the securitization of both models. Less
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