作为发展科技金融的重要路径之一,专利证券化是实现专利价值的资产运用方式,也是解决科技型中小企业融资难的市场型融资模式。但专利本身不能天然地成为拟证券化的基础资产,我国专利证券化的开展应以能够产生可预测现金流的专利衍生债权为基础资产,并按照一定标准对其筛选后构建资产池。而鉴于专利证券化在我国的实施面临的市场分割障碍及法制环境尚未健全等风险阻却,有必要从风险隔离制度、价值评估体系、信用评级机制及信息披露制度等方面着手,对其风险进行规制,以完善专利证券化具体规则的构建。 As one of the important ways to develop science and technology finance, patent securitization is the way of using assets to realize the value of patent, and it is also a market-based financing mode to solve the financing difficulty of science and technology SMEs. However, the patent itself can not naturally become the underlying asset to be securitized. The development of patent securitization in our country should be based on the patented derivative claims that can generate a predictable cash flow, and the asset pools should be constructed after screening according to certain criteria. In view of the barriers to market segmentation and the imperfect legal environment in the implementation of patent securitization in China, it is necessary to regulate the risk from the aspects of risk isolation system, value evaluation system, credit rating mechanism and information disclosure system In order to improve the construction of the specific rules of patent securitization.