Abstract
The knowledge-intensive enterprises have a fundamental role in the world economy. To stay competitive, businesses need to constantly create new knowledge. The businesses have certain advantages over large corporate structures: they are able to respond quickly to the changing market demand, they are flexible in organizational terms and often have the effective internal communications. As a result, small businesses can more easily incorporate the new working methods and processes into their operations and therefore be innovative. The purpose of intellectual property law is to stimulate the innovation. In summary, the accumulation of physical capital alone will not be sufficient to support development in a new economy and new global competition. Enterprises must achieve a higher trajectory of technological capabilities and competitiveness. Such a qualitative transformation should be based on the formation of knowledge that is driven by innovation, driven by shared connections and supported by lifelong learning. The main purpose of the study is to analyze the state of investment in innovation in enterprises in Ukraine and the protection of intellectual property rights. Intellectual property (IP) systems can be crucial in helping new businesses transform their innovation potential and creativity into market value and competitiveness. Intellectual property rights (IPR) allow innovative entrepreneurs to protect their inventions. They can also perform many other functions, such as signalling current and future value to investors, competitors and partners, accessing knowledge markets and networks, and preventing competitors from patenting related inventions. However, IP systems can also hinder the development of entrepreneurial ideas and hinder the dissemination of knowledge and innovation. Firm-level evidence suggests a positive correlation between patenting and new business growth, access to venture capital, and survival. The data show a huge increase in patent applications over the last decade, which differs significantly in the share of young patent firms in different countries.
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