IP Bank to aid small companies grow faster
Print Edition
Nanxiang Shineland Industrial Park launched its Intellectual Property Bank last month, through which medium- and small-sized companies can use patents, trademark and copyright as collateral to apply for loans.
The IP Bank is a platform that links medium and small sized companies, said Zong Liuyan, the industrial park’s general manager.
It will work with China Construction Bank, Bank of China, Bank of Shanghai, China Merchants Bank, Bank of Nanjing, and Minsheng Rural Banking to build an IP service chain to help companies expand their financing channels.
While there are many successful financing cases using IP, it is not well-mernknown among companies.
China Construction Bank had introduced IP financing products, but many companies weren’t aware there was such a service, said Shen Zhengfang, manager of China Construction Bank Nanxiang Branch.
The industrial park is seeking government support to increase publicity for the platform. The IP Bank has facilitated a possible IP loan between China Construction Bank and TM’Holter Co.
TM’Holter has hundreds of patents and was not sure which could be used as collateral, said Kang Hong, its general manager. A meeting with China Construction Bank will help select the patents that can be used, and a bonding company can choose professional evaluation agencies to value them.
With the involvement of the government and a third-party bonding company, IP loans’ risks can be lowered to the minimum.
When the IP Bank is operational, a companies’ credit record database will be built. With the double insurance, banks will have fewer concerns about releasing loans and companies with patents can grow faster, said Zong.
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