公司上市的知识产权风险(袁真富)
合集下载
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
10
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
（4）知识产权在上市公司信息披露中日渐突出
Intellectual Property Rights has been more and more outstanding among the information disclosed by listed companies.
Without the control of IP rights, companies will face troubles in going to public.
2007年江西天施康中药股份有限公司上市被否： “康恩贝”商标属于股东康恩贝集团间接控股公司所有。
The proposal of Jiangxi Tianshikang Chinese Medicine Co., Ltd going to public. was turned down in 2007:
• 朗科科技2009年年报： “专利”一词更是出现了358次。
“Patent” was mentioned 358 times in the annual report of Netac Technology Co. Ltd in 2009.
11
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
2013.11.29
演讲人简介
Introduction 袁真富 博士 Dr. Lawrence Yuan
• 上海大学知识产权学院副院长 • Vice Director of Shanghai University Intellectual Property School • 上海知识产权研究所常务副所长 • Executive Director of Shanghai Intellectual Property Academe • 《中国知识产权》杂志专栏作家 • Columnist for China Intellectual Property • 东方知识产权俱乐部（OIPC）创始发起人、副理事长 • Founder and Vice President of OIPC
to them by Eaton Electrical Group.
4
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
1、上市公司利润被转移风险
Profits of listed companies are at risk of be百度文库ng transferred
Case 2: Trademark issues resulting from the GOME disputes
• 结论：控制股权未必就能控制上市公司 Conclusion: Controlling the share does not mean controlling the listed company.
公司上市前后的知识产权风险
Intellectual Property Risks Before and After a Company Goes to Public
演讲人：袁真富
Speaker: Lawrence Yuan
上海大学知识产权学院 Shanghai University Intellectual Property School
（2）创新型中小上市公司更重视知识产权信息披露
Innovative SME place more emphasis on disclosing information about intellectual property rights.
（3）上市公司披露的知识产权信息日益丰富
Information disclosed by listed companies has become increasingly abundant.
2003 355
2004 376
2005 402
2006 414
2007 421
占上市公司 比例（%）
Proportion
26.57
36.32
47.01
51.42
55.82
59.12 63.21
65.09
66.19
9
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
• （1）披露知识产权信息的上市公司近年来日渐增多
There is an increasing number of listed companies that disclose information about their intellectual property rights.
表1：历年披露知识产权信息的沪市A股上市公司数量
1）知识产权相关词汇的词频统计
Word frequency count of IP-related vocabulary
copyright trademark
patent Intellectual property right
12
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
7
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
4、股权发生变动但知识产权未动
Changes happen in shares while intellectual property rights remain unchanged.
• 案例：三联商社的商标转让条款无效
最大拥有量
(Maximum of
135
163
94
66
ownership)
最大申请量
(Maximum of
221
185
/
/
application)
表：创业板公司招股说明书中披露知产拥有最多量与申请最多量统计 Maximum of ownership and application in the information disclosed about IP in prospectus
The trademark of “Conba” is directly owned by the company which is indirectly controlled by the shareholder of Tianshikang, Conba Group.
2010年吉林永大集团股份有限公司上市被否： 借用伊顿公司的“EATON”商标进行销售。
• 案例：上市后关联许可：五粮液集团的后续商标许可
Case: Related license after going to public —Subsequent trademark licenses of Wuliangye Group
• 结论：知识产权成为转移上市公司利润的重要杠杆
Conclusion: Intellectual Property has become an important leverage of transferring profits of listed companies.
5
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
2、大股东现金套现风险
Risks of Big Shareholders Cashing out
• 案例：上市后的关联交易：三九胃泰的商标转让
Case: Related license after going to public —A trademark transfer of Sanjiu Enterprise Group
Case: The clause of trademark transfer of Sanlian Shop was invalid.
• 结论：知识产权的产权结构安排须预见到股权变动的问题
Conclusion: Changes in shares should be foreseen when making IP structure arrangements.
The proposal of Jilin Yongda Group Co., Ltd going to public. was turned down in 2010: The company sold their products with the trademark” Eaton” which was licensed
（2）创业板公司知识产权拥有量情况
Ownership of intellectual property rights of listed companies in growth enterprise market
proprietary technology copyright
trademark
patent
13
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
专利 (Patent)
商标
著作权
(Trademark) (Copyright)
专有技术 (Proprietary Technology)
3
1.1 上市公司知识产权的结构安排风险
Risks of IP Structure Arrangements
知识产权由谁掌握？大股东or上市公司
Who holds IP rights? Big shareholders or the listed companies themselves?
无知识产权控制权，可能影响公司上市！
3、大股东退出的遗留问题 Leftover Problems arising from withdrawal of shareholders
• 案例1：承德露露的两次交易
Case 1: Two transactions of Hebei Chengde Lolo Co., Ltd.
• 案例2：国美之争可能产生的商标问题
2
?? 如果上市公司的知识产权掌握 在母公司或大股东手中， 会遇到什么情况？
If intellectual property rights of a listed company belong to its parent company or a big shareholder, what will happen?
8
1.2 上市公司知识产权的信息披露问题
Information Disclosure about Intellectual Property Rights in Listed Companies
1、我国上市公司知识产权信息披露的总体情况
Overall situation of information disclosure about IP rights in listed companies in China
• 结论：知识产权成为上市公司大股东套现的重要工具
Conclusion: Intellectual property has become an important tool for big shareholders of listed companies to cash out.
6
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
Number of A-share listed companies in SSE disclosing information about IP rights in the past 9 years
年份 Year
上市公司 数量（家）
Number
1999 169
2000 231
2001 299
2002 327
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
（4）知识产权在上市公司信息披露中日渐突出
Intellectual Property Rights has been more and more outstanding among the information disclosed by listed companies.
Without the control of IP rights, companies will face troubles in going to public.
2007年江西天施康中药股份有限公司上市被否： “康恩贝”商标属于股东康恩贝集团间接控股公司所有。
The proposal of Jiangxi Tianshikang Chinese Medicine Co., Ltd going to public. was turned down in 2007:
• 朗科科技2009年年报： “专利”一词更是出现了358次。
“Patent” was mentioned 358 times in the annual report of Netac Technology Co. Ltd in 2009.
11
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
2013.11.29
演讲人简介
Introduction 袁真富 博士 Dr. Lawrence Yuan
• 上海大学知识产权学院副院长 • Vice Director of Shanghai University Intellectual Property School • 上海知识产权研究所常务副所长 • Executive Director of Shanghai Intellectual Property Academe • 《中国知识产权》杂志专栏作家 • Columnist for China Intellectual Property • 东方知识产权俱乐部（OIPC）创始发起人、副理事长 • Founder and Vice President of OIPC
to them by Eaton Electrical Group.
4
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
1、上市公司利润被转移风险
Profits of listed companies are at risk of be百度文库ng transferred
Case 2: Trademark issues resulting from the GOME disputes
• 结论：控制股权未必就能控制上市公司 Conclusion: Controlling the share does not mean controlling the listed company.
公司上市前后的知识产权风险
Intellectual Property Risks Before and After a Company Goes to Public
演讲人：袁真富
Speaker: Lawrence Yuan
上海大学知识产权学院 Shanghai University Intellectual Property School
（2）创新型中小上市公司更重视知识产权信息披露
Innovative SME place more emphasis on disclosing information about intellectual property rights.
（3）上市公司披露的知识产权信息日益丰富
Information disclosed by listed companies has become increasingly abundant.
2003 355
2004 376
2005 402
2006 414
2007 421
占上市公司 比例（%）
Proportion
26.57
36.32
47.01
51.42
55.82
59.12 63.21
65.09
66.19
9
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
• （1）披露知识产权信息的上市公司近年来日渐增多
There is an increasing number of listed companies that disclose information about their intellectual property rights.
表1：历年披露知识产权信息的沪市A股上市公司数量
1）知识产权相关词汇的词频统计
Word frequency count of IP-related vocabulary
copyright trademark
patent Intellectual property right
12
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
7
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
4、股权发生变动但知识产权未动
Changes happen in shares while intellectual property rights remain unchanged.
• 案例：三联商社的商标转让条款无效
最大拥有量
(Maximum of
135
163
94
66
ownership)
最大申请量
(Maximum of
221
185
/
/
application)
表：创业板公司招股说明书中披露知产拥有最多量与申请最多量统计 Maximum of ownership and application in the information disclosed about IP in prospectus
The trademark of “Conba” is directly owned by the company which is indirectly controlled by the shareholder of Tianshikang, Conba Group.
2010年吉林永大集团股份有限公司上市被否： 借用伊顿公司的“EATON”商标进行销售。
• 案例：上市后关联许可：五粮液集团的后续商标许可
Case: Related license after going to public —Subsequent trademark licenses of Wuliangye Group
• 结论：知识产权成为转移上市公司利润的重要杠杆
Conclusion: Intellectual Property has become an important leverage of transferring profits of listed companies.
5
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
2、大股东现金套现风险
Risks of Big Shareholders Cashing out
• 案例：上市后的关联交易：三九胃泰的商标转让
Case: Related license after going to public —A trademark transfer of Sanjiu Enterprise Group
Case: The clause of trademark transfer of Sanlian Shop was invalid.
• 结论：知识产权的产权结构安排须预见到股权变动的问题
Conclusion: Changes in shares should be foreseen when making IP structure arrangements.
The proposal of Jilin Yongda Group Co., Ltd going to public. was turned down in 2010: The company sold their products with the trademark” Eaton” which was licensed
（2）创业板公司知识产权拥有量情况
Ownership of intellectual property rights of listed companies in growth enterprise market
proprietary technology copyright
trademark
patent
13
1.2 上市公司知识产权的信息披露问题
Information Disclosure of Intellectual Property Rights in Listed Companies
专利 (Patent)
商标
著作权
(Trademark) (Copyright)
专有技术 (Proprietary Technology)
3
1.1 上市公司知识产权的结构安排风险
Risks of IP Structure Arrangements
知识产权由谁掌握？大股东or上市公司
Who holds IP rights? Big shareholders or the listed companies themselves?
无知识产权控制权，可能影响公司上市！
3、大股东退出的遗留问题 Leftover Problems arising from withdrawal of shareholders
• 案例1：承德露露的两次交易
Case 1: Two transactions of Hebei Chengde Lolo Co., Ltd.
• 案例2：国美之争可能产生的商标问题
2
?? 如果上市公司的知识产权掌握 在母公司或大股东手中， 会遇到什么情况？
If intellectual property rights of a listed company belong to its parent company or a big shareholder, what will happen?
8
1.2 上市公司知识产权的信息披露问题
Information Disclosure about Intellectual Property Rights in Listed Companies
1、我国上市公司知识产权信息披露的总体情况
Overall situation of information disclosure about IP rights in listed companies in China
• 结论：知识产权成为上市公司大股东套现的重要工具
Conclusion: Intellectual property has become an important tool for big shareholders of listed companies to cash out.
6
1.1 上市公司知识产权的结构安排风险 Risks of IP Structure Arrangements
Number of A-share listed companies in SSE disclosing information about IP rights in the past 9 years
年份 Year
上市公司 数量（家）
Number
1999 169
2000 231
2001 299
2002 327