By analyzing the dataset of 1160 patent-collateralized loan contracts of China during 2009to2012, we identified the different between direct and indirect collateralization modes by Student's t test and the influence of different variables on patent pledge mode by Logistic regression model. The result shows Government Incentive Policies and high and new tech enterprises have a significant positive effect on patent pledge mode. Patent number, the effective patent life, the enterprise’s age and the company’s size have a significant negative effect on patent pledge mode. We also find that the enterprise’s age and the effective patent life have a negative moderating effect on the relationship between the Government Incentive Policies and Enterprises’ Patent Pledge mode.