知识产权与会计制度改革

中国加入世贸组织,标志着中国已全面融入国际社会,这意味着人员、资金、信息、产品等的跨国界的流动将越来越通畅。作为记录和计算经济业务的会计,也必然要求要能与世界各国无障碍地沟通与交流,这首先要从会计法规上加以改革。自20世纪90年代以来,我国加快了会计改革和与国际会计协调的步伐。     

保护知识产权 中国一视同仁

<正>只要是在中国境内依法注册的外资企业,所制造的产品都是中国制造,所研发的创新产品也都是中国创造,在保护知识产权方面,中国政府都会一视同仁。2011年1月14日,外商知识产权保护座谈会在钓鱼台国宾馆举行。打击侵犯知识产权和制售假冒伪劣商品全国专项行动     

知识产权证券化：知识资本与金融资本的有效融合

本介绍了知识产权证券化在国内外发展情况及其内涵，分析了其发展的市场动力及其在知识产权转化中的作用，设计了国内知识产权证券化的基本交易结构并对有关问题作了进一步探讨，最后对一个具体案例进行了简析，希望对国内知识产权证券化的理论研究与实践能有所启示。     

让资本市场成为战略新兴产业的发动机

战略新兴产业不同干一般传统产业,它不仅关系到中国经济结构调整和发展方式的转变,而且关系到中国未来产业在全球的地位,关系到中国经济的国际竞争力。如果中国不能在战略新兴产业的发展方面迈出重要步伐,     

西部地区融资困境与资本市场的培育

西部地区发展离不开资金的支持,但目前国家投向西部资金相对有限,西部地区自我积累能力弱,金融资产份额小,吸引外资能力差,直接融资水平低,而且资金外流现象严重,资金制约着西部经济的发展。如何吸引外资和沿海地区的资金及本地区资金投资于西部,除了现有直接投资的优惠政策外,     

合享汇智获1800万A轮融资 链接知识产权与科技资本

合享汇智成功引进1800万元人民币的A轮融资,将用于产品研发、渠道拓展、业务模式创新等环节。     

应对知识产权风险

中国企业赴美投资中的知识产权风险日益凸显。对此,中国企业需要了解并遵守美国的知识产权法律,制定知识产权策略,以将知识产权风险降到最低。中国企业赴美投资在过去的十年中取得了迅速发展,高科技产业和娱乐业正在成为中国企业赴美投资的新热点,越来越多的中国企业赴美设立研发中心、建立销售和售后服务子公司、并购美国企业。在这一过程中,知识产权风险也日益凸显。对此,中国企业需要了解并遵守美国的知识产权法律,制定知识产权策略,以将知识产权风险降到最低。     

微软知识产权保护中国行

随着中国发展战略的转型,中国正努力从制造大国走向创造强国,保护知识产权已成为当今中国经济工作的重要内容,并提升到国家战略的高度。     

让民间资本成为稳增长的主力

不论是"稳增长"还是危机时期刺激经济恢复增长,并非简单印钞票发货币,而最重要的是要创造有效需求近日,由于受各种必要的结构调整如房地产调控、产能过剩调整以及外需市场萎缩的影响,     

Intellectual property rights reform and the cost of corporate debt

This paper investigates the role of intellectual property rights (IPR) protection on the cost of bank loans for firms in 48 countries. Using substantial reforms of patent rights as a source of identifying variation, the paper provides strong evidence that borrowers from countries that underwent IPR reform experience significant reductions in the cost of bank debt. Importantly, the effects of IPR reform on loan rates are significantly larger in industries that are more IP-intensive. Additional analysis shows that in the wake of reforms borrowers obtain larger size loans, which indicates that improvements in IPR are associated with greater credit availability. IPR reform also increases foreign lenders participation in loan syndicates. Overall, these findings suggest that legal protection afforded to intellectual property has a significant impact on the cost of corporate borrowing and the ability of innovative firms to raise debt capital.     

如何成为风险投资家

如果你想成为风险投资家，那么，哪些是你需要了解的？职业阶梯是怎样的？以哪儿作为起点？本文会给你一个初步的介绍     

Shareholder litigation rights and capital structure decisions

We exploit the staggered adoption of the universal demand (UD) laws across U.S. states, which impedes shareholder rights to initiate derivative lawsuits, as a quasi-natural experiment to examine the relation between shareholder litigation rights and firm capital structures. We find that weaker shareholder litigation rights due to the UD laws adoption lead to higher financial leverage, which enhances firm value. Furthermore, the positive relation between the UD laws adoption and financial leverage is more pronounced for firms exposed to higher shareholder litigation risk ex ante or financially constrained firms. Our evidence is consistent with lower shareholder litigation threats motivating firms to increase financial leverage.     

政策应尽量引导资金投向实业

全国人大财经委副主任委员吴晓灵在2011年中国小额信贷联盟年会暨中国小额信贷峰会上说：中国不缺钱,缺的是把这些钱很好地引到中国实业中的机制。中国现在做实业太难了,而炒股、炒房、炒钱挣的钱远远比做实业的钱多。所以,我们现在的政策应该是把资金尽量引导到做实业中去,为实业家创造更加宽松的政策环境     

土地使用权出资问题探析

土地作为一项自然资源,因其自身所固有的特性而比其他资源更为人们所关注和重视。我国对土地资源的管理尤为严格,直接涉及的法律就有土地管理法、农村土地承包管理法、城市房地产管理法、物权法等,间接涉及的法律法规更是难以一一列举。笔者拟就物权法中对土地使用权的规定,结合其他相关法律,对土地使用权的出资问题作一探讨。     

How market smarts can protect property rights

Intellectual property comprises an ever-increasing fraction of corporate wealth, but what's the good of that if an ever-increasing fraction of the property is copied or stolen? Faced with developing countries' limited and inadequately enforced patent and copyright laws, some companies are resorting to market-based strategies to protect their intellectual property. These include preempting or threatening competitors, embedding intellectual property in environments that can be protected, bundling insecure intellectual property with its more secure cousins, and actually entering the businesses that pose a threat. The authors urge companies coping with weak property rights to follow a decision tree when choosing which strategies to use and when: Start by thinking of the strategies that will protect your business's core. If, for example, a first-mover advantage is within reach, making yourself more committed to intellectual property could be the answer. If you and your rivals are equally matched, ask yourself, "Can those that threaten me with copying be copied in turn?" The knowledge that each of you can hurt the other may dampen the competitive intensity or even lead to voluntary sharing of property. If these solutions fail or don't apply, try forging a connection with a product or business closely related to your own. Doing so may prevent a valued asset from falling into a rival's hands or make the asset harder to misappropriate. This approach can even help you expand your piece of the market pie or reduce the cost of making the threatened product, perhaps to the point where you can compete against pirated goods. Finally, if there still doesn't seem to be a way of making money from your threatened product, you may choose to move into the very business that has hurt your own. Such strategies are behind the economics of successful companies like Intel and NBC, say the authors.     

The property rights game: Discovering the meaning of private property

In this paper we discuss the results of an educational game we have developed. This game deals with the acquisition, use, and transfer of private property rights in land and shows participants the importance of property rights in market economies. While our findings are not scientific, they do show that production in a society with solely communal property collapses while production in a society with private property flourishes. We hope that these results encourage others to use this exercise as an educational experience for students.     

Staged venture capital contracting with ratchets and liquidation rights

This paper uses real options analysis to study later round financing in the presence of two standard venture capital contracting provisions: anti-dilution (ratchet) and liquidation preference. We argue that such provisions can preclude financing of a positive NPV venture in the case of a large follow-on financing relative to firm value. Liquidation preference contracting at multiples greater than one is not feasible in the later round if the financing is small relative to firm value. We highlight an interaction effect between the two provisions: increasing the liquidation multiple can help to avoid dilution and the need for the prior venture capitalist to waive ratchet provisions.     

Property rights and access to equity capital in China

This study uses recent improvements to China's physical and intellectual property protections to test information asymmetry, signaling, and litigation risk theories of initial public offering (IPO) underpricing. We find robust evidence that stronger physical and intellectual property protections are associated with lower initial returns, especially among smaller IPOs and non-equity carve-outs. This result is consistent with the notion that property rights reduce information asymmetry among IPO participants; however, some of China's reforms, including the 2014 establishment of specialized intellectual property courts in Beijing, Shanghai, and Guangzhou, appear to have increased litigation risk. Additional tests indicate that property rights positively impact the likelihood that an IPO firm is backed by venture capital. Overall, these results are consistent with the idea that strong property rights help alleviate the adverse selection problem that results from information asymmetry among firms and equity investors.