Cluster Strategy: Features of Sectoral and Intersectoral Legal Institutions Implementation

Abstract

The paper discusses the processes of creation and functioning of cluster structures. Cluster approaches are very promising today: they allow for both creating new development institutions and managing the existing ones. The economic entities included in the cluster are also participants in the investment agreement at the same time. The author shows which subjective rights, absolute duties they have when united in an industrial-type cluster. The implementation of investment projects is mediated by the renewal of fixed assets. The innovation cluster then promises self-sufficiency, self-financing, but the creation of loan capital seems to be an extremely costly procedure. The institutions of the contract system that are able to stem the risks arising in this regard are considered. Various aspects of substitution transactions, in general, the interaction of investment and management contracts are summarized. The author notes that within the cluster, its beneficiaries by their actions contribute to both the accumulation of profits and the accumulation of losses. The more chances they have to pay off accounts receivable, the sooner they will turn their assets into liquid ones at full value. The functionality of cluster objects is brought to the fore, which outlines the shortest path to monetization of their development. The development of the Arctic resource potential (due to the cluster presumption) in this regard seems significant. The interaction of legal institutions is considered according to the concept of the so-called Triple helix, as far as it simplifies the creation of property complexes.