Direct Securitization Intellectual Property (IP) assets, including patents, trademarks, copyrights, and even trade secrets, have become the lifeblood of numerous organizations. While these intangible assets have traditionally been kept within the company, a novel financial technique is emerging that allows firms to leverage their IP – direct Intellectual Property Securitization (IPS) via pass-through securities. Understanding Direct Intellectual Property Securitization Direct IPS is an innovative financial mechanism where IP assets are converted into tradable securities without the use of a special purpose vehicle (SPV), as is typical in traditional (indirect) securitization. Here, companies issue securities directly to investors. These securities, termed pass-through securities, enable investors to receive a pro-rata share of