Abstract
As the aim of the article, to show in the framework of theoretical research, to assess the situation of Hungarian intellectual property in the life of businesses. In our paper, we try to analyze and present this area approaching it from an economic side, which seems to be a mere legal phenomenon for an outside observer.
Highlights
The basis for my choice of topic was the recognition that intellectual property protection is a key element of today’s economy
The essence of intellectual property protection is that states grant the right holder a certain degree of exclusivity
The roots of intellectual property protection have already been observed in antiquity in the Greek city state of Sybaris, where around 500 BC, those chefs was granted protection for exclusive use who prepared dishes according to the regulations. [2]
Summary
Entrepreneurs have always been seen as free spirits, heroic figures that defy existing way of thinking. Innovation is the process through which the entrepreneur converts market opportunities into workable, profitable, and marketable ideas It is an application of something creative that has a significant impact on an organization, industry or society. Innovation is one of the keys to exponential or linear growth of business growth This is evidenced by the Solow-Swan model [8], which defines three basic production factors for economic growth; namely capital (K), labour (L), and innovation/knowledge/technological development/entrepreneurship (A). An important observation here is that the intellectual property-intensive sectors account for a total of 42.3% of all EU GDP. Intellectual property-intensive sectors, in total, represent 42.3% of the total EU gross domestic product, which shows well the importance of the area. Note: due to overlapping use of IP rights, the sum of the figures for the individual IPR exceeds the total figure for IPR-intensive industries
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