Shanghai, 10 Banks Team to Lend Money Through IP Pledge Financing
Liao Shumin
/SOURCE : yicai
Shanghai, 10 Banks Team to Lend Money Through IP Pledge Financing

(Yicai Global) Dec. 2 -- Shanghai's intellectual property authority will join hands with 10 banks to provide easier ways for technologically innovative companies to apply for loans by pledging their intellectual property as collateral.

The Shanghai Intellectual Property Administration penned a cooperation agreement with 10 lenders regarding applicants' risk assessment, credit review, and interest rates, Xinhua News Agency reported. 

From January to October, the SIPA accepted 65 such types of financing contracts with pledged IP worth CNY980 million (USD139.4 million), nearly doubled from a year ago, a public survey shows.

Editor: Emmi Laine

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Keywords: IP Pledge Financing