In the study the approaches to the development of innovative cluster by means of creation of new sources of its financing as which it is offered to use securitization of intangible assets are considered. The intellectual property in Russia can be licensed, sold, used as pledge when crediting or can serve as additional factor for initial attraction of capital share. The legislation of the Russian Federation allows receiving necessary estimates for intangible assets for their use as intellectual property. The offered mechanism based on the pledge of intellectual property will allow to transfer low-liquid intangible as-sets (in the form in which they exist today) to highly liquid material asset, i.e. investments, money or other financial instrument. As mortgages it is offered to use packages (pools) of intellectual property formed by the organization founder (originator) in the form of the project. Pools of assets which generate money are transformed to the securities having an investment rating which can be sold to potential investors. The stages of creation of vertically integrat-ed control system of financing of innovative clusters and commercialization of intellectual property during which the founder of the project (originator) - the firm possessing assets and planning to use advantages of securitization creates pools of innovative projects of the cluster are offered and interacts with owners of intellectual property. The Novelty of offered scheme of securit-ization consists in inclusion in the scheme of creditors of banks, and also oth-er financial institutions. In that case the originator (trust company or venture fund) uses the pools of projects created by it (including intellectual property) as mortgages, and then obtains a credit loan on the security of intangible as-sets. It is important to note that securitization in the offered scheme is con-sidered as a way of financing of innovative clusters under the concession of monetary requirements by issue of securities which, in turn, are provided with the allocated assets. In this case as assets it is offered to consider intel-lectual property united in pools for decrease in participants’ risks.
securitization, innovations, cluster, intangible assets, secu-rities, banks, financing, cluster, region development
1. Mel'nikova A.Yu., Dadayan E.V. Grazhdansko-pravovaya zaschita isklyuchitel'nyh prav vladel'cev tovarnyh znakov // Innovacionnye tendencii razvitiya rossiyskoy nauki : mat-ly VIII Mezhdunar. nauch.-prakt. konf. molodyh uchenyh. - Krasnoyarsk, 2015. - S. 339-342.
2. Pridvornyy S.V., Dadayan E.V. Osobennosti zaschity avtorskih prav // Innovacionnye tendencii razvitiya rossiyskoy nauki : mat-ly VIII Mezhdunar. nauch.-prakt. konf. molodyh uchenyh. - Krasnoyarsk, 2015. - S. 358-360.
3. Glazunova K.D. Sek'yuritizaciya kak effektivnyy sposob kommercializacii intellektual'noy sobstvennosti. - URL: http://ipcma-gazine.ru/legal-issues/securitization-as-an-effective-way-to-commercia-lize-intellectual-property.
4. Dadayan E.V., Storozheva A.N. K voprosu ob ispolnenii obyazatel'stv, voznikayuschih iz kreditnogo dogovora s uchastiem yuridicheskogo lica // Nauka i obrazovanie: opyt, problemy, perspektivy razvitiya : mat-ly XIV Mezhdunar. nauch.-prakt. konf. - Krasnoyarsk, 2015. - S. 351-354.
5. Sochneva E.N., Voronin E.A., Zyablikov D.V. Social'no-ekonomicheskaya politika Krasnoyarskogo kraya kak regiona innovacionnogo razvitiya // Sibirskiy zhurnal nauki i tehnologiy. - 2017. - T. 18, № 3. - S. 680-689.
6. Dadayan E.V., Storozheva A.N. K voprosu ob ispolnenii obyazatel'stv, voznikayuschih iz kreditnogo dogovora s uchastiem yuridicheskogo lica // Nauka i obrazovanie: opyt, problemy, perspektivy razvitiya : mat-ly XIV Mezhdunar. nauch.-prakt. konf. - Krasnoyarsk, 2015. - S. 351-354.
7. Kononchuk A.A., Storozheva A.N. Umysel storon na sovershenie mnimoy i pritvornoy sdelki: voprosy teorii i praktiki // Gumanitarnye i pravovye problemy sovremennoy Rossii: mat-ly XII Mezhvuz. studencheskoy nauch.-prakt. konf. - Krasnoyarsk, 2016. - S. 87-89.
8. Malahova A.A., Zyryanova I.I. Ocenka investicionnogo riska na rossiyskom rynke akciy // Ekonomika i upravlenie v sovremennyh usloviyah : mat-ly mezhdunar. (zaoch.) nauch.-prakt. konf. - Kras-noyarsk, 2016. - S. 181-183.
9. Zyryanova I.I., Malahova A.A. Sozdanie edinogo megaregulyatora kak protivodeystvie nedobrosovestnym praktikam povedeniya na rossiyskom finansovom rynke // Ekonomika i upravlenie v sovremennyh usloviyah. - Krasnoyarsk, 2013. - S. 114-117.
