창조 금융의 활성화를 위한 법적 과제 - 기술 금융과 지식재산권 금융을 중심으로 -

Abstract

This article is intended to review a legal framework for enhancing "creative finance," which supports a "creative economy," one of major agenda that the current Park Geun Hye Administration has pursued. The "creative finance" may be defined as financing for start-up companies or small- and medium-sized innovative companies whose main assets consist of technology or intellectual property ("IP"). Thus, this article focuses on the area of technology finance and IP finance, among the fields relating to creative finance. The current Government has taken major measures to boost technology finance and IP finance. The Financial Services Commission, a relevant government commission, among others, has implemented the measures setting up a technology data base system and a technology credit bureau scheme, which enable financial institutions to extend their credits to such start-up innovative companies. However, this articles believes that more tasks need to be taken in order to enhance creative finance. Therefore, this article suggests the following improvements in terms of legal and policy aspects. First, technology should be specified into the scope of IP rights under the Act Concerning Collateral of Movable Property and Claims in order to enable technology to be included in the category of collateral by filing to the relevant authority. Second, the scope of 'underlined asset owners' in asset-backed securitization transactions under the Asset-Backed Securitization Act should be extended to "general companies," including start-up innovative companies, deviated from the current "high-credit rating companies." Third, the scope of 'trust assets' entrusted by a trustee company under the Capital Market Services Act should be extended to 'technology assets' in order to activate technology finance through trust transactions. Fourth, a separate "technology credit business" should be set up rather than the current scheme of combining technology credit information with general credit information. Fifth, commercial banks should be encouraged to invest in start-up companies by increasing the current 15% ceiling of owning shares with voting rights in such companies under the Bank Act. Sixth, the collective investment scheme investing in start-up innovative companies need to be improved to encourage individual investors to invest in such companies by providing tax benefits to investors. Seventh, it is necessary to implement the policy for setting up the infrastructure of exchange markets for technology and IP and an exchange for operating such markets by boosting participants in the exchange market, such as "non-practicing entity" (NPE) companies specializing in IP administration as well as trustee companies in charge of managing entrusted technology and IP.