Commercialization of intellectual property objects in industrial enterprises

Abstract

Introducing the results of innovative activity into economic circulation is one of the essential characteristics of an effective industrial enterprise. Commercializing intellectual property objects involves coordinated production and commercial activity, adopting and implementing scientifically based decisions. This is necessary to successfully pass an intellectual product through all stages of its life cycle.The purpose of this study is to form market processes for commercializing intellectual property objects at industrial enterprises, finding the most effective option for their introduction into economic circulation.The theoretical investigation of the problem made it possible to identify and analyze various possible conceptual approaches to commercializing intellectual property in an industrial enterprise. Among them are market push, market pull, engineering, and reengineering commercialization models.Separate stages of forming the market model for commercializing intellectual property in an industrial enterprise are highlighted. First, the methodological principles of the vertical, horizontal, and vertical-horizontal market processes of intellectual property commercialization have been developed. The peculiarities of an intellectual product’s life cycle are determined; based on this, a market model of intellectual property’s life cycle (model of successive changes) is proposed. Finally, for each of the proposed market processes, the main advantages and disadvantages of their practical use are determined, as well as the areas of their most effective usage.

Formation of economic and legal measures for the development of the market of intellectual property objects

“…Valuation of IP objects can be carried out for different purposes and at the same time it is possible to obtain different assessment results. The most widely used are two types of IP valuation: IP market value assessment and IP investment value assessment [4,7,11,12,15,16]. The market value of IP is the amount of money for which IP could be sold on the date of the valuation after the marketing elaboration of the target market and the availability of all commercial information.…”

“…In parallel with this, a tendency is being formed to create a commercial component based on innovations and new advanced technologies. But, as evidenced by the results of many studies, some methodological and theoretical issues of regulation of market relations in the field of intellectual property remain not fully resolved despite the fact that there is great interest in this area [1][2][3][4][5].…”

“…Other researchers of the economic essence and problems of IP market development [4,6,[16][17][18][19] are overwhelmingly limited to studies of its partial indicators, on the basis of which it is possible to directly or indirectly assess the effectiveness of the IP market, the presence or absence of threats to its effective functioning. In particular, in [6], the characteristics and indicators traditional for the IP market are used: market capacity growth reduction of interethnic barriers to entry into it for other countries and enterprises, optimization of pricing policy and development of market infrastructure.…”

“…In particular, in [6], the characteristics and indicators traditional for the IP market are used: market capacity growth reduction of interethnic barriers to entry into it for other countries and enterprises, optimization of pricing policy and development of market infrastructure. Particular attention is paid to ensuring the implementation of national and international legislation and the fight against counterfeiting in [4], and in [19] -to the processes of international support for the commercialization of IP objects. Without denying the importance and significance of these processes, we note that more important for assessing the effectiveness of the IP market are functions that are directly the subject of market relations.…”

Intellectual Property Commercialization in the Creative Industry: An Integrative Literature Review

“…In another study, Grimaldi et al (2021) divided IP strategies into three categories, which are defensive, collaborative, and impromptu, highlighting the advantages and disadvantages of each and how their application varies depending on owners. In the commercialization area, Pererva & Maslak (2022) studied the stages of IP commercialization specifically for industrial enterprises. Furthermore, Boudreau et al (2022) emphasized that the commercialization process cannot be separated from its protection mechanism.…”