近幾年來金融科技快速發展,傳統金融業被破壞式創新顛覆, 智能投顧的興起改變了資產管理行業的傳統模式,填補了一般大 眾理財市場的空缺。隨著互聯網理財模式在中國得到大眾認可, 智能投顧平台在中國開始萌芽,處於探索階段。在這樣的背景下, 本研究以中國智能投顧市場為研究對象,採用歸納法和對比分析 法,探究中國智能投顧業發展趨勢之相關實務。 本文根據前人的研究,對智能投顧的概念、特徵以及類型進 行了總結,歸納全球各國智能投顧業發展現況;根據中國財富管 理市場成熟程度來分析中國智能投顧業發展前景;參考美國智能 投顧發展模式和中國 P2P 網路借貸平台發展模式,歸納出適合中 國發展智能投顧業的經驗:1)讓傳統金融業者成為行業領導者, 2)明確服務範疇,規範從業證照,3)對算法進行嚴格監管,4) 發展被動型基金,財富管理市場產品多樣化,5)儘早建立完善 的風控體系;此外還根據各國智能投顧業之監管措施,對中國監 管機關􏰀出宏觀的監管建議,並希望此研究報告對之後想要進一 步研究智能投顧的學者􏰀供參考。

本研究旨在利用風險管控的方式，來協助電子製造業建立一套可有效的維持產品的綠色品質並降低產品的綠色風險的綠色品質風險管控模型，使得企業不致因產品在出貨後，被檢測出違反RoHS指令而使企業被罰以巨額款項並損失商譽。 回顧1997年12月聯合國氣候變化框架公約(UNFCCC)參加國第三次會議在日本京都舉行，並簽定了[京都議定書]之後，各國陸續制定出其各自的環保法令，其中又以歐盟於2003年2月通過並於2006年7月1日起實施限制鉛，鎘，汞，六價鉻，多溴聯苯，多溴聯苯醚等六項有害物質的RoHS指令的影響範圍最大且最為直接的影響到我國的產業，從而引發起了本研究的動機。 本研究透過與訪談個案的合作，實際從分析個案的產品研發生產的作業中，由影響RoHS的角度從作業一直剖析到管控內容，進而找到會影響RoHS品質不良的16個風險因子，並透過建立的監控系統來進行風險因子的資料採樣，最後經由羅吉斯迴歸模型，建立出一套風險計算模型，以連接RoHS風險因子的監控系統而成為一套綠色品質風險管控模型。 / The objective of this research is to help electronic manufacturers to establish a Green Quality Risk Management Model, which can effectively keep green quality and decrease green quality risk of products. Consequently, companies can prevent huge amount of fine and goodwill impairment caused by RoHS violation of their shipments. After the participants of UNFCCC held the third meeting in Kyoto, Japan and ratified the Kyoto Protocol in December 1997, every country created its environmental regulations in secession. Among those regulations, the RoHS directive, which prohibits the usage of Lead, Mercury, Cadmium, Hexavalent chromium (Cr6+), Polybrominated biphenyls (PBB)and Polybrominated diphenyl ether (PBDE), adopted in February 2003 and activated in January 2006 by the European Union resulted in most pervasive and direct impact on Taiwanese industry, consequently creating the incentive for this research. By the cooperation of case interview, this research analyze the research and development operations of interviewees with the perspectives from primary operations to floor control in order to identify sixteen risk factors of RoHS quality, and sample the data of risk factors with established control system. Finally, a green quality risk management model was created by the establishment of a risk computation model in connection with RoHS risk factor control system was established using Logistic Regression model.

台灣科技業代工廠常面臨購買合法來源零組件，仍無法擺脫專利侵權控訴之命運，亦或常居於談判地位劣勢之被授權方角色，只能接受授權方完全排除自身擔保責任之契約條款，導致國內廠商始終擺脫不了高額權利金及侵權損害賠償金之累。本論文之核心研究問題，即在於探討如何在專利授權之架構下，降低未來潛在之第三人侵權責任風險？並區分法律制度層面、契約設計層面、管理制度層面，三個面向進行探討，嘗試提出可行之風險管控策略。個案研究方面，選擇美國最高法院Quanta v. LG專利侵權訴訟案，此案受各界宣稱為近期美國司法界對於專利制度最具指標性之判決，本論文透過判決評析探求美國法院見解真意，並在此架構下，提出個人意見及看法，進而對於專利權人未來之策略轉變，以及台灣代工業者應之因應方式提出建議。 1、法律制度面管控： 被控侵權者可運用專利制度下賦予專利權本質上限制之「專利權耗盡原則」，衡平原則發展下之「默示授權原則」，以及「再授權理論」對於專利權人之權利主張限制，以達降低侵權責任成立之風險。美國法下針對專利權耗盡原則及默示授權原則發展出多種態樣，惟其是否於個案中有所適用空間，往往仍取決於授權契約條款之解釋，此即彰顯出事先明確定義授權條款之重要性。 2、契約設計面管控： 由於我國法與美國法下對於專利授權契約定性上之差異，進而推衍出我國法下相較於美國法較加重授權人責任之結果，是以我國學說有主張當被授權人因運用授權標的遭受第三人主張侵權時，應準用民法瑕疵擔保規定使授權人承負一定責任者；反之，美國學說則普遍否認授權人存在有此等法定契約責任，此亦和雙方政策選擇保護立場互異之結果不謀而合。惟在現階段實務及學說對於授權人是否承擔被授權人之侵權瑕疵擔保責任尚無定見之下，以契約條款預先分配侵權風險最可達成管控風險之目的。美國企業之授權契約發展已十分成熟，與侵權責任分配相關之典型條款，如：授權條款、聲明擔保條款、補償條款，均存有許多附隨之細節需於契約設計談判時預先留意。惟若於契約條款中無法獲得有利於己之責任分配模式，即應評估風險性高低，決定是否採行其他之風險管控方式，如：專利侵權責任保險、企業自行提撥風險準備金、進行專利侵權訴訟評估與管理等。 3、管理制度面管控： 授權做為專利眾多換價模式之一，其背後最終之目的即在於具體落實為企業利潤收益，自然無法背離商業策略思維而獨立運作。國內現階段之專利授權實務發展成效不彰，其原因即在於國內普遍認為授權是單純法律之範疇，而未於企業內建立一套完備之授權管理制度。事實上，授權契約設計亦應與智財行銷要素、商業模式建構要素，以及企業營運流程相互配套，藉由平時有效之管理制度，方能確實將侵權風險防患於未然。 4、個案判決評析結論： 國內代工業者Quanta雖於本案中獲得最終勝訴判決，可說是貫徹了美國最高法院近年來持續傾向限縮專利權人權能之見解。然其是否代表台灣代工業者獲得了完全的勝利？往後不需再為合法採購之零件是否侵權一事苦惱？本論文採取保留之態度。因本案判決事實上僅圍繞在判斷LG與Intel授權範圍之解釋，並未對於能否以契約條款限制專利權耗盡原則表示見解。且本案判決出爐後，專利權人未來勢必轉變其授權策略，亦可預見其授權條款將更趨嚴苛，以規避判決中劃定之界限。台灣代工廠商實應謹慎集思因應策略以對。 / Taiwan OEMs are often situated in the role as licensees with inferior bargaining power when negotiated license agreements with foreign companies, and usually had no choice but to accept unfair contract terms. Therefore, Taiwan companies cannot get ride of high royalties and infringement penalty for all these years. This paper aims to discuss how to reduce potential patent infringement risk under the license system. The discussion will be elaborated from three aspects: Legal, Contract, and Management, and it will also try to propose some feasible risk management strategies. Furthermore, the paper will include a case study on Quanta v. LG, which is believed to be the most significant patent infringement case in United States Supreme Court in 2008.Through the analysis of Court opinions, the thesis then proposes some different suggestions about conversion of the patentee’ license strategies and how Taiwan OEMs should cope with the change in the future. 1.Legal Aspect: The defendant of a infringement case can apply for the doctrine of patent exhaustion, implied license, and sublicense. These doctrines are derived from patent right essential limitation. The U.S. law develops a lot of different models of patent exhaustion and implied license. It often depends on the interpretation of the terms of license agreement whether theses doctrines should be applied to individual case. This demonstrates the importance of precise definition and arrangement of contracts in advance. 2.Contract Aspect: The contract qualification of patent license agreement are different in Taiwan Law and the U.S. Law. Taiwan law intensifies licensor’s liability than American Law. Some Taiwan theories consider that when the licensee is accused of infringement because of the use of licensed articles, the licensor should have liability corresponding to the liability of warranty against defects in Civil Law. On the contrary, the majority of American theories deny such contract liability from law of licensor. Such difference corresponds to the different policies adopted in both countries. Since the defect warranty liability of the licensors are still in dispute, it will be the best way for risk management to distribute the infringement liability of both parties in contract explicitly. License agreement research has been fully developed in the U.S.. Grant Clause, Representations & Warranties and Indemnifications are all accompanied with details to be concerned. If the corporation unfortunately cannot obtain favorable clauses for its own side, it should evaluate risk to decide should it adopt another way for risk control, such as insurance, setting up risk reserves or litigation management. 3.Management Aspect: License is one of business models for corporation to make profit from patent. Its main purpose is to realize intangible patents into tangible profit. Accordingly, licensing strategy cannot be apart from commercial strategies. Patent license practice is still immature in Taiwan. Domestic corporations generally consider license as only a legal issue and do not properly construct a management system. In fact, license agreement design is a multidisciplinary subject and should coordinate with IP marketing strategies, business model, and enterprise operation procedure. Effective management system can establish necessary precautions against infringement liabilities. 4.Case Study: United States Supreme Court finally decided in favor of Quanta, Taiwan OEM, in Quanta v. LG case. The judgment does not mean a complete victory for Taiwan OEMs and neither did it indicate that the manufacturers do not need to bother for patent infringement by combining licensed components. Because the Court opinion only focuses within the scope of the license agreement by LG to Intel, without mentioning about if license conditions could break free of the doctrine of patent exhaustion. Furthermore, the stricter license conditions from the licensor is expectable after this case. Taiwan OEMs should make their best to find a solution.