1、公司上市前后的知識產權風險 演講人：袁真富Speaker: Lawrence Yuan上海大學知識產權學院Shanghai University Intellectual Property School2013.11.29Intellectual Property Risks Before and After a Company Goes to Public2演講人簡介 Introduction 袁真富 博士 Dr. Lawrence Yuan上海大學知識產權學院副院長Vice Director of Shanghai University Intellectual Property Scho

2、ol上海知識產權研究所常務副所長Executive Director of Shanghai Intellectual Property Academe中國知識產權雜志專欄作家Columnist for China Intellectual Property東方知識產權俱樂部（OIPC）創始發起人、副理事長Founder and Vice President of OIPC 3? 如果上市公司的知識產權掌握在母公司或大股東手中，會遇到什么情況？ If intellectual property rights of a listed company belong to its parent co

3、mpany or a big shareholder, what will happen? 41.1 上市公司知識產權的結構安排風險 Risks of IP Structure Arrangements知識產權由誰掌握？大股東or上市公司Who holds IP rights? Big shareholders or the listed companies themselves?無知識產權控制權，可能影響公司上市！2007年江西天施康中藥股份有限公司上市被否： “康恩貝”商標屬于股東康恩貝集團間接控股公司所有。The proposal of Jiangxi Tianshikang Chine

4、se Medicine Co., Ltd going to public. was turned down in 2007: The trademark of “Conba” is directly owned by the company which is indirectly controlled by the shareholder of Tianshikang, Conba Group.2010年吉林永大集團股份有限公司上市被否： 借用伊頓公司的“EATON”商標進行銷售。The proposal of Jilin Yongda Group Co., Ltd going to publ

5、ic. was turned down in 2010: The company sold their products with the trademark” Eaton” which was licensed to them by Eaton Electrical Group. Without the control of IP rights, companies will face troubles in going to public. 51、上市公司利潤被轉移風險 Profits of listed companies are at risk of being transferred

6、案例：上市后關聯許可：五糧液集團的后續商標許可 Case: Related license after going to public Subsequent trademark licenses of Wuliangye Group結論：知識產權成為轉移上市公司利潤的重要杠桿 Conclusion: Intellectual Property has become an important leverage of transferring profits of listed companies.1.1 上市公司知識產權的結構安排風險 Risks of IP Structure Arrangem

7、ents71.1 上市公司知識產權的結構安排風險 Risks of IP Structure Arrangements3、大股東退出的遺留問題 Leftover Problems arising from withdrawal of shareholders案例1：承德露露的兩次交易 Case 1: Two transactions of Hebei Chengde Lolo Co., Ltd.案例2：國美之爭可能產生的商標問題 Case 2: Trademark issues resulting from the GOME disputes結論：控制股權未必就能控制上市公司 Conclusi

8、on: Controlling the share does not mean controlling the listed company.81.1 上市公司知識產權的結構安排風險 Risks of IP Structure Arrangements4、股權發生變動但知識產權未動 Changes happen in shares while intellectual property rights remain unchanged.案例：三聯商社的商標轉讓條款無效 Case: The clause of trademark transfer of Sanlian Shop was inval

9、id.結論：知識產權的產權結構安排須預見到股權變動的問題 Conclusion: Changes in shares should be foreseen when making IP structure arrangements.10（2）創新型中小上市公司更重視知識產權信息披露 Innovative SME place more emphasis on disclosing information about intellectual property rights.（3）上市公司披露的知識產權信息日益豐富 Information disclosed by listed companies

10、 has become increasingly abundant.1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies11（4）知識產權在上市公司信息披露中日漸突出 Intellectual Property Rights has been more and more outstanding among the information disclosed by listed companies.朗科科技2009年年報： “專利”一詞更是出現了358次。 “Pa

11、tent” was mentioned 358 times in the annual report of Netac Technology Co. Ltd in 2009.1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies121）知識產權相關詞匯的詞頻統計 Word frequency count of IP-related vocabulary1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual

12、 Property Rights in Listed CompaniescopyrighttrademarkpatentIntellectual property right14專利 (Patent)商標(Trademark)著作權(Copyright)專有技術(Proprietary Technology)最大擁有量(Maximum of ownership)135 163 94 66 最大申請量(Maximum of application)221 185 /表：創業板公司招股說明書中披露知產擁有最多量與申請最多量統計Maximum of ownership and application

13、 in the information disclosed about IP in prospectus of listed GEM companies1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies152、上市公司知識產權信息披露的主要問題 Major problems in disclosed information about IP rights in listed companies （1）知識產權信息披露不真實 The information di

14、sclosed is not true.（2）知識產權信息披露不準確 The information disclosed is not correct. 1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies17（7）知識產權信息披露內容不明晰 The information disclosed is not clear.（8）知識產權信息披露細節不一致 The details of the information disclosed are not the sa

15、me.（9）知識產權信息披露用語不規范 Expressions used in information disclosure are not standard.1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies183、上市公司知識產權信息披露問題的成因 Reasons for the above problems（1）缺乏制度上的系統規范 Lack of systematic and standard mechanism沒有統一的知識產權信息披露標準指導 Wi

16、thout uniform and standard guidance on information disclosure about intellectual property rights1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies19（2）出于利益考慮披露失當 Inappropriate disclosure in consideration of interests（3）對于知識產權不太了解 Not have a full understandi

17、ng of intellectual property （4）不認為屬于重要的信息 Regarding intellectual property as unimportant information（5）相關機構盡職調查不當 Improper due diligence of related institutions1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies204、上市公司知識產權信息披露不當的后果 Outcomes of inappropriate

18、 information disclosure about intellectual property rights in listed companies（1）受到監管機構的監督處罰 Be supervised and punished by regulator（2）影響上市公司的發行交易 Affect the issue of stocks and transactions of listed companies（3）影響或誤導投資人的知情與決策 Affect of mislead investors decisions（4）引發第三方的質疑或投訴 Lead to the questions or complaints made by a third party1.2 上市公司知識產權的信息披露問題Information Disclosure of Intellectual Property Rights in Listed Companies211.3 上市公司面臨的知識產權煩惱IP Troubles that listed companies face1、侵權麻煩 Infringement troubles新大新材上市前夜宣布暫緩上市。 The night befor