Abstract
The global innovation market illustrates the modern realities of economic development, where rapid technological shifts and globalization intertwine, shaping a new order of interaction among countries, companies, and scientific sectors. The paper unfolds key aspects related to the challenges and opportunities arising at the intersection of innovation and global business. The impact on innovation development is analyzed, as contemporary companies face the necessity to adapt to diverse cultures, markets, and technological standards, requiring not only the creation of unique and competitive products but also an understanding of the specifics of each region. Technological trends and challenges facing the global innovation market are examined. On the one hand, new technologies accelerate business development and facilitate the creation of innovative products. On the other hand, constant pressure on developers regarding the speed of innovation and continuous market changes create intense competition and demand constant adaptation. Emphasis is placed on the legal and regulatory context of the global innovation market. The complexity of using, protecting, and exchanging intellectual property arises due to different norms and policies in various countries, which can be a key factor in resolving disputes and either promoting or hindering innovation. Government measures can stimulate innovation through funding scientific research, developing technological infrastructure, and creating favorable conditions for the growth of startups and technology companies. Competitiveness and collaboration on the global market are viewed as a unique competition for resources, as talents and markets require new strategies that blend competition and cooperation, fostering the emergence of innovative ecosystems. The interconnection between innovation and sustainable development on the global market is explored. Sustainability becomes not only an ethical but also a strategic aspect of companies' and countries' development, determining their long-term competitiveness.
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