In recent years, as a comprehensive pilot city of cultural system reform determined by our province, Baoding City has actively promoted cultural system reform in accordance with the overall arrangements of the Central Committee and the Provincial Party Committee on deepening cultural system reform, and all the work has shown a good development trend. At present, Baoding Animation Industrial Park has cultivated a number of cultural leading enterprises, among which the large-scale three-dimensional animated film "Elk King" won the 13th film China Watch Award, and two cartoons, the colorful lantern of the mouse and the knowledge of earthquake and disaster prevention, have been produced and broadcast, filling the gaps in the original animation series of our province. With the rapid development of cultural industry, Baoding's cultural industry is facing a severe fact, that is, lack of funds. Capital is an important blood for the development of cultural industry, and the lack of capital has become an important bottleneck restricting the development of cultural industry in Baoding. In order to realize the healthy and rapid development of Baoding cultural industry, it is necessary to make full use of various feasible financing methods. "Intellectual property pledge" can make the financing of cultural industry enterprises play the role of "fostering strengths and avoiding weaknesses", so that the value of intellectual property rights can be reflected and applied, which is undoubtedly a timely help for enterprises with independent intellectual property rights to solve the shortage of funds, accelerate the market transformation of intellectual property rights and enhance their core competitiveness.

I. Definition of related concepts of intellectual property pledge

(I) Intellectual property rights

Intellectual property rights refer to "the exclusive rights enjoyed by the obligee to the intellectual labor achievements created by him" and are generally valid only for a limited period of time. Intellectual property is an intangible property right, which is protected by national laws and has value and use value. It includes industrial property right and copyright.

industrial property rights include the exclusive rights of patents, trademarks and manufacturers' names. Copyright, which is what we usually call copyright, refers to the right of the copyright owner to sign, publish and use his literary, artistic and scientific works, and to license others to use and get remuneration. Specifically, it consists of natural science, social science, copyright and neighboring rights of works in literature, music, drama, painting, sculpture, photography and film photography. Intellectual property rights in cultural industries are mainly copyright and trademark rights.

(II) Pledge of intellectual property

Pledge refers to the way that the debtor or a third party hands over his property to the creditor for possession, and uses it as a guarantee for creditor's rights. Pledge can be divided into chattel pledge and right pledge. Intellectual property pledge is a form of right pledge, that is, intellectual property pledge refers to a kind of financing behavior in which the intellectual property right holder takes the property rights in the legally owned intellectual property rights such as patent right, exclusive right to use registered trademark, copyright, etc. as the pledge object as the guarantee of debt, obtains funds from financing institutions such as banks after evaluation and pricing, and repays the principal and interest of funds on schedule.

the development of cultural industries can adopt direct financing methods such as issuing stocks and bonds or raising funds from the society, or indirect financing methods such as current assets loans and fixed assets loans to solve the problem of capital shortage. However, the cultural enterprises in Baoding are basically small and medium-sized enterprises, and some of them have just been transformed into enterprises by former literary and art troupes, theaters, municipal media and other units. Their investment amount is limited and their scale is small, which does not meet the conditions for public offering of stocks and bonds. Coupled with the industrial characteristics, usually land or factory buildings are mainly leased, and there are not many liquid assets, so there is no condition for using liquid assets and fixed assets to guarantee loans to banks. However, the cultural industry has a vast number of independent intellectual property rights, and offering intellectual property pledge loans through commercial banks can solve the financing difficulties for small and medium-sized cultural enterprises that lack physical assets as collateral loans and have insufficient funds but independent intellectual property rights.

ii. application of intellectual property pledge financing in Baoding cultural industry financing

(I) application status of intellectual property pledge in Baoding cultural industry financing

in September 26, the World Bank, China National Intellectual Property Administration, China People's Bank, some domestic commercial banks, guarantee companies and evaluation agencies gathered in Xiangtan to hold the "National Seminar on Intellectual Property Pledge Financing", which officially promoted intellectual property pledge financing. On April 12, 21, Hebei Province promulgated the Interim Measures for the Administration of Patent Pledged Loans in Hebei Province, and selected five cities, namely Shijiazhuang, Handan, Langfang, Baoding and Tangshan, and Shijiazhuang High-tech Zone, to start the pilot work of patent pledged loans. Since being selected as a pilot city, Baoding Science and Technology Bureau has actively implemented the spirit of the national and provincial pilot work of intellectual property pledge loans, conducted in-depth policy propaganda and investigation in various enterprises, and recommended outstanding enterprises with high technology content, strong innovation, outstanding business performance and good credit rating to commercial banks and financing guarantee institutions, and successfully promoted the first small enterprise patent pledge loan in Baoding in 211. Baoding Traditional Chinese Medicine Pharmaceutical Co., Ltd. obtained a patent pledge loan of 2 million yuan from Baoding Construction Bank with three legal and effective patented technologies, which created a precedent for Baoding enterprises to rely on patent pledge to obtain loans.

But as far as the cultural industry is concerned, the capital problem of the cultural industry in Baoding is mainly solved by government allocation and social capital, and there is no way for enterprises to pledge loans to banks by using their own intellectual property rights. Due to the characteristics of intellectual property rights and the difficulty of risk control, banks are worried about the loan issuance of cultural enterprises, especially small and medium-sized cultural enterprises, and intellectual property pledge loans have not yet become a widely used financing means.

(II) The development bottleneck of intellectual property pledge in Baoding cultural industry financing

First, the value of intellectual property is difficult to determine. The most important link of intellectual property pledge is the evaluation of intellectual property, but it is difficult to evaluate because intellectual property is an intangible asset. At present, although China has formulated the Asset Appraisal Criteria-Intangible Assets, it is very difficult to operate. It stipulates that intangible assets can be evaluated by three methods: cost method, income method and market method. Among them, the cost method emphasizes historical cost, and the evaluation result may be divorced from reality, and it is contrary to the excess profitability of intangible assets and cannot reflect the intrinsic value of intangible assets. Market method is the closest to reality, but it relies too much on a fully active open market, and it needs to find a transaction case similar to the appraised object, which is not available in the domestic market; Income method can best reflect the value of intangible assets, but the subjective factors of each index in this method are too strong, which leads to the possibility of deviation. None of the three methods can fully meet the needs of intellectual property evaluation in practice.

In addition, there is a shortage of intellectual property appraisal talents in Baoding, and there is no authoritative intellectual property appraisal institution, and the appraisal market is chaotic. All these have restricted the development of intellectual property pledge loans.

second, it is not easy to realize intellectual property rights. Compared with real estate collateral, the mobility of intellectual property is poor, so it is difficult to dispose of it. Moreover, at this stage, the domestic awareness of intellectual property rights is not high, and the market for intellectual property rights transfer is also small. Once the debtor cannot repay the debts due, it will involve the realization of intellectual property rights. Considering the difficulty of realizing intellectual property rights, most commercial banks take a cautious attitude towards intellectual property pledge loans.

thirdly, intellectual property pledge financing is risky. First of all, the pledge of intellectual property rights is based on the future cash inflow of intellectual property rights as the repayment guarantee, which makes banks feel more unstable and the risks are not easy to control. Secondly, the bank itself is unfamiliar with the appraisal of intellectual property rights and lacks professional evaluation talents. Asset evaluation itself is a highly technical work, and the evaluation of intangible assets such as intellectual property rights is particularly difficult. With the help of marketing management, the value of intellectual property can only be reflected when it is applied to the production and sales of products. However, it is difficult to predict in advance how the products manufactured on the basis of this intellectual property will be sold in the market in the future, which also affects the determination of the value of intellectual property. Therefore, few financial institutions provide intellectual property pledge loans, and there is a lack of specific operational methods.