Abstract

This paper investigates the role of intellectual property in the modern post-industrial economy and its intensive commercialization of the country’s competitive advantages in the global economic environment. The main purpose of the research is to prove the hypothesis about the crucial role of intellectual property development in ensuring expanded public reproduction and facilitating the global competitiveness of national economies through innovative modernization of production. To gain the research aim, the authors used a combination of theoretical synthesis and comprehensive statistical analysis. The study follows a deductive approach and theoretical background analysis followed by quantitative research of statistical data. It allowed arriving essential conclusions concerning the role of intellectual property in strengthening the global competitiveness of the national economy and practical policy implications regarding stimulating intellectual property commercialization within the national economy. Paper investigates transmission mechanisms that represent the impact of intensive commercialization of intellectual property on public reproduction and competitiveness of the national economy. Commercialization of intellectual property, defined as a range of activities envisaged for rapid implementation of intellectual activity, resulted in economic turnover to obtain strategic competitive advantages and generate economic profit supported by the transformation of intellectual property into intellectual capital used for the manufacturing of innovative, highly marginal products. Comprehensive statistical data analysis was conducted using quantitative methods (cluster analysis and principal components analysis). The findings proved the key role of intellectual property in the modern system of public reproduction. They demonstrated the multiplicative impact of intellectual property development on a country’s competitive global economic environment. Obtained research results provided the basis for policy implications concerning the development of commercialization of intellectual property and stimulation of expanded reproduction of intellectual capital in Ukraine as a precondition of innovative modernization of national industries and acquiring strategic competitive advantages in a globalized market.  

Keywords: competitive advantages, global economic environment, intellectual property commercialization, intellectual capital, innovative development.

JEL Classification: O34, O50, C10, F43.

Cite as: Virchenko, V., Petrunia, Yu., Osetskyi, V., Makarenko, M., & Sheludko, V. (2021). Commercialization of intellectual property: innovative impact on global competitiveness of national economies. Marketing and Management of Innovations, 2, 25-39. https://doi.org/10.21272/mmi.2021.2-02

This work is licensed under a Creative Commons Attribution 4.0 International License

References

1. Acquah, D. (2017). Intellectual property, developing countries and the law and policy of the European Union: towards postcolonial control of development. Helsinki: Nord Print. Retrieved from [Link]
2. Bazylevych, V. (2014). Intellectual property. 3 rd. Ed. Kyiv: Znanna.
3. Desforges, C. D. (2001). The commercial exploitation of intellectual property rights by licensing. Hawksmere. [Google Scholar]
4. EUIPO. (2019). Intellectual property rights intensive industries and economic performance in the European Union: Industry-Level Analysis Report. 3rd. Ed. Munich:, EPO. Retrieved from [Link]
5. Everitt, B., Landau, S., & Leese, M. (2011). Cluster Analysis. 5th. Ed. Hoboken: John Wiley & Sons. Retrieved from [Link]
6. Fisk, C. L. (2009). Working knowledge: employee innovation and the rise of corporate intellectual property, 1800-1930. Univ of North Carolina Press. [Google Scholar]
7. Galun, E., & Breiman, A. (1997). Transgenic plants: with an appendix on intellectual properties and commercialization of transgenic plants. London: Imperial College Press. [Google Scholar]
8. Hovenkamp, H. (2019). Intellectual Property and Competition. Research Handbook on the Economics of Intellectual Property Law (p. 231-261). Cheltenham: Edward Elgar Publishing. Retrieved from [Link]
9. Idris, K. (2003). Intellectual property: a power tool for economic growth. Geneve: WIPO. [Google Scholar]
10. Jolliffe, I. (2002). Principal Component Analysis. 2nd. Ed. New-York: Springer Science & Business Media. Retrieved from [Link]
11. Keller, G. (2015). Guide on intellectual property commercialization. Geneva: WIPO; CDIP. Retrieved from [Link]
12. Manderieux, L. (2010). Intellectual Property Rights as a Means of Competitiveness. In Managing Economies, Trade and International Business (pp. 273-287). Palgrave Macmillan, London. [Google Scholar] [CrossRef]
13. McCoy, A. P., Badinelli, R., Koebel, C. T., & Thabet, W. (2010). Concurrent commercialization and new-product adoption for construction products. European Journal of Innovation Management, 13(2), 222-243. [Google Scholar] [CrossRef]
14. Orliuk, O. (2016). Respect for the intellectual property rights as a moral basis of social progress. Almanac of Law. Vol.7. 33-37. Retrieved from [Link]
15. Peneder, M., Thompson, M., & Wörter, M. (2019). The (Anti-)Competitive Effect of Intellectual Property Rights. WIFO Working Papers, Vol. 577. 1-9. Retrieved from [Link]
16. Posner, M. V. (1961). International trade and technical change. Oxford Economic Papers, 13(3), 323-341. [Google Scholar]
17. Prasad, A., & Agarwala, A. (2009). Copyright Law Desk Book: Knowledge, Access & Development. Universal Law Publishing. [Google Scholar]
18. Singh, S. (2015). Innovation, intellectual property rights and competition policy. Innovation and Development, 5(1), 147-164. [Google Scholar] [CrossRef]
19. Teixeira, A. A., & Ferreira, C. (2019). Intellectual property rights and the competitiveness of academic spin-offs. Journal of Innovation & Knowledge, 4(3), 154-161. [Google Scholar] [CrossRef]
20. WEF. (2019). The Global Competitiveness Report 2019. Geneva: World Economic Forum. Retrieved from [Link]
21. Yang, D. (2012). Understanding and Profiting from Intellectual Property: Strategies Across Borders. Palgrave Macmillan. [Google Scholar]
22. Zink, R. (2009). The role of IP in promoting economic growth through innovation. Intellectual Asset Management, May/June, 23-29. Retrieved from [Link]