문화 지식재산의 유동화와 증권성 판단

With the digital transformation and the spread of the global content market, cultural intellectual property(IP) is emerging as a key asset of national economy and industrial policy. The purpose of this study is to analyze the structural implications of cultural IP's financial liquidity from the perspective of industrial policy and the policy implications of the judgment of security inherent in it. The impact and response of the possibility of financial liquidity of cultural intellectual property and the judgment of the security of investment securities were examined through the case of “MusiCow”, a floating investment platform using music copyright as an underlying asset. It has been confirmed that the securitization of cultural intellectual property and token securities-based financial products diversify the financing channels of the cultural industry, while securing the consistency and reliability of the financial regulatory system is essential for market expansion. Under the Capital Markets Act, the judgment of security acts as a key variable that determines the possibility of cultural IP becoming an asset, and shows that a balanced approach between investor protection and industrial revitalization is necessary. It presents a plan to build a sustainable cultural finance ecosystem through institutional improvement and industrial internalization of cultural IP finance, and policy alternatives to revitalize domestic IP financing.