Innovative Intellectual Property Products: The Case of Russian Federation
Innovation activity is currently the most important factor in boosting of competitiveness through the creation of an innovative environment. In turn, innovations can be introduced only if intellectual property rights are protected. This article attempts to establish the relationship between the indicators of intellectual property rights protection and the level of national economic development. One can also find here stimulation proposals for the creation of innovative products. Indicators that characterize the property right protection (International Property Rights Index, IPRI, in the category Intellectual Property Rights) were compared with indicators that characterize the level of economic development (GDP per capita and R&D spending) on the example of developed and developing countries. The correlation between R&D spending and property right protection was not determined. This indicates that the International Property Rights Index in the category Intellectual Property Rights does not fully reflect the innovativeness. To activate national innovative development, some suggest using special forms of financing, improving the regulatory framework, implementing more high-tech developments, adapting the infrastructure, improving the licensing mechanism, and activating the technology transfer.