Business-Value Collateral: Japan's New Law Lets Startups Borrow Without Land or Personal Guarantees
Japan's Business-Value-Based Financing Promotion Act took effect on May 25, 2026, creating an enterprise value charge that lets companies pledge their whole business, including intangibles and future cash flow. We compare it with US venture debt and Korean and Singaporean IP finance, and ask whether banks have the skills to use it.