Abstract: Mortgage and pledge are two forms of property right guarantee, there are two contradictory ideas about the acceptance of pledge as the intellectual property rights guarantee in the academic circle. Both the theoretical analysis and financing practices indicate that the adoption of pledge contributes to the guarantee discrimination of intellectual property rights. The value of intellectual property is the foundation on which intellectual property can achieve the guarantee function. With the analytical framework of legal economics, the problem of guarantee discrimination in intellectual property financing can be explained from the two perspectives of law and economics, thus the four countermeasure systems can then be constructed to solve the issue of guarantee discrimination of intellectual property rights with the guarantee value of intellectual property rights as the core.

Key words: intellectual property rights; guarantee discrimination; financing; valuation