Effective mechanism of intellectual property management in a company

Abstract

The article considers the role of intellectual property (IP) system in the modern economy; defines main functions of innovations and intellectual property objects in the knowledge economy and basic properties of an innovation, such as scientific and technical novelty, industrial applicability, commercial feasibility, under interconnection with IP management. Current paper researches intellectual property objects as the results of innovation activity; reveals the main principles of effective intellectual property management and the essential elements of the effective mechanism of intellectual property management in a company under the conditions of knowledge economy. The study presents the author's definition of the term “intellectual property management”, considers the essence of effective IP management mechanism and develops the author's mechanism of intellectual property management in a company. The study substantiates that the continuous introduction of innovations and expansion of intangible assets, which occurs due to a developed intellectual property management system that ensures the protection of intellectual rights, is a strategic factor of the company's competitiveness.