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.
Highlights
The post-industrial transformation of the modern global economic environment turns the human intellectual activity into one of the main accelerators of socio-economic development and an important factor of expanded social reproduction
The first principal component included 7 indicators that characterize the subsystem of organizational and economic support of the commercialization of intellectual property, as well as the effectiveness of transmission mechanism, which facilitates the transformation of intellectual property into the intellectual capital of innovative enterprises, including the effectiveness of protection and enforcement of intellectual property rights; incidence of corruption; country's participation in international co-invention and multi-stakeholder collaboration; state of cluster development; research institutions prominence; research and development expenditures; the number of patent applications per million population
The fourth group includes countries that combine a low level of organizational and institutional support for the enforcement of intellectual property rights with underperforming transmission system, which fails to facilitate the transformation of intellectual activity results into the intellectual capital of innovative enterprises, including Algeria, Bangladesh, Bulgaria, Vietnam, Armenia, Guatemala, Honduras, Egypt, Cambodia, Morocco, Namibia, Nepal, Peru, Philippines, Tajikistan, and others
Summary
The post-industrial transformation of the modern global economic environment turns the human intellectual activity into one of the main accelerators of socio-economic development and an important factor of expanded social reproduction. The formation of the intellectual property market precedes the transformation of intellectual capital into a strategic asset of enterprises It becomes a key prerequisite for the implementation of an innovative model of economic development. Adopting intellectual activity results in a commercial turnover Their further effective application in the real sector of the economy guarantees the competitiveness of both individual economic entities in the domestic market and the national economy on a global scale. The diverse experience of various developed countries convincingly demonstrates that commercialization of intellectual property plays a crucial role in ensuring economic turnover of intellectual assets, accumulation of intellectual capital, innovative modernization of social production, and full realization of national scientific and technological potential under the post-industrial transformation of the global economy
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