Weifang Firms Can Get Loan Via Trademark Pledge
2009/06/03
was learnt from Industry and Commerce Bureau of Weifang City of Shandong Province on June 1, from then on, local enterprises can take out loan from banks by pledging their trademarks.
A relevant document called Interim Measures on Movable Property Mortgage and Exclusive Right of Trademark Pledge (hereinafter referred to as the Measures) was printed and issued by city's authority on May 24, which is the first normative document of this kind formulated in the whole province.
The Measures nail down the terms and scopes of fund receiving party and fund investing party during mortgaging movable property and pledging the exclusive right of trademark, as well as the rights and obligations of the both sides, and standardize the application procedure of mortgaging and pledging as well.
The line of pledging the exclusive right of trademark should not exceed half of the assessed value of trademark in principle, and the financing rate of movable property mortgage and exclusive right of trademark pledge must be no more than four times of loan rate of the same type and at the same period, the Measures explain that.
Industry and Commerce Bureaus at different levels of Weifang city will timely publish information relating to movable property mortgage registration and trademark pledge on the official website, offer consultation service for fund investing party and the public, and positively assist the fund receiving party to complete registration of exclusive right of trademark pledge.
Since the beginning of this year, Weifang city has handled 62 pieces of movable property mortgage registration, with the main debt topping 0.975 billion yuan.
Weifang has many well-known trademarks. In future, local firms can directly exchange brands for money, Director of Weifang Municipal Bureau for Industry and Commerce Xiang Weikai introduced, and the city has nearly 13,000 pieces of valid registered trademarks at present, of which 200 are Shandong Well-known Trademarks, 38 are Chinese Well-known Trademarks. Most strikingly, some of them contain huge brand value after many years' development. If being used for pledge financing, those brands will effectively ease the current financial difficulties faced by enterprises.
Source: IPR in China
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