Abstract: Intangible assets are not only a ticket to the 21st century, but also a weapon f or the competition of power among nations in the 21st century. Many state-owned intangible assets, however, are draining away in the course of overseas investm ent, owing to the loss of state right of trademark and patent, inadequate evalua tion mechanism and multinational corporations mismanagement. In view of the current situation, the article, based on an analysis of the reasons for the loss of state-owned intangible assets in overseas investment, proposes some appropr iate legal measures against it, including changing the traditional conception of assets, perfecting relevant laws and regulations, drawing on the international laws of protection of intangible assets, reforming administration system, improv ing evaluation mechanism and tightening the parent company's supervision over it s subsidiaries.