Commercialization of Intellectual Property Rights as Foundation for Innovation

TitleCommercialization of Intellectual Property Rights as Foundation for Innovation
Publication TypeJournal Article
Year of Publication2019
AuthorsKodynetz, АO, Maidanyk, LR
Short TitleSci. innov.
SectionLegal Protection of Intellectual Property
Introduction. Innovations are considered impossible without intellectual, creative work of authors. Inventors and others are involved into this process. Ukraine has approved striving to become technologically developed and competitive member of international relationships in the view of information era.
Problem Statement. Most of patents issued in Ukraine do not provide profitability for patented technical solutions. Thus, effective commercialization of intellectual property rights is crucial on the way to the developed innovative economics of Ukraine. Commercialization of intellectual property rights is considered as the foundation for innovation process.
Purpose. The purpose is to disclose the concept of commercialization of intellectual property rights.
Materials and Methods. The concept and elements of intellectual property commercialization have been analyzed.
Results. The commercialization of intellectual property rights is characterized by graduality, which is reflected in stages which are realized one after another.
Conclusions. The following stages (elements) of commercialization of intellectual property have been identified: identification of the object of intellectual property and obtaining a security document, unless otherwise provided by law; marketing (product identification, market analysis, sales channels, pricing, audit), which includes, in addition to the above promotion of the product / service using the object of intellectual property; valuation of intellectual property (cost method, market (comparative), income methods of valuation); intellectual property rights insurance; search for users and conclusion of agreements with them on exploitation of intellectual property rights. The research has focused on some types of agreements connected directly or indirectly with intellectual property: license, license agreement, assignment agreement, franchise agreement, non-disclosure (confidentiality) agreement, and collaboration agreement.
Keywordscommercialization of intellectual property rights, innovations
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