INTELLECTUAL PROPERTY MANAGEMENT STRATEGIES: IDENTIFICATION, DEVELOPMENT AND IMPLEMENTATION IN THE CONDITIONS OF MODERN BUSINESS

Abstract

The article examines the specifics of modern business functioning in conditions of intensive growth of the role of intellectual property as a key resource for enterprises in achieving competitive advantage and stimulating their innovative development. Intellectual property management strategies, features of their identification, development and implementation in the conditions of modern business processes are analyzed. The process of identifying intellectual property based on the definition of intellectual assets, their classification and evaluation is considered. It was determined that establishing a proper procedure for evaluating identified assets allows enterprises to better understand the importance of resources that can be used to create innovative products and ensure market competitive advantages. Strategies for the development of intellectual property in the context of the process of creation and accumulation of objects of intellectual property rights, including patenting, licensing, and strategies for cooperation with other organizations, are considered. It has been proven that the effective management of intellectual property involves the constant development of these assets to ensure the competitiveness of economic entities in the conditions of dynamic changes in the modern business environment. The practical features and specifics of the implementation of intellectual property management strategies in modern conditions are studied. It has been proven that based on the choice of the optimal strategy and its correct implementation, enterprises can achieve the maximum benefit from their intellectual property. The impact of intellectual property management strategies on the dynamics of financial performance of business entities, their innovative activity and competitiveness in the market is considered. It is determined how modern organizations can maximize the use of their intellectual property by ensuring a sustainable competitive advantage in a dynamic business environment. The need for constant monitoring and analysis of intellectual property management strategies has been proven in order to ensure the company's ability to adapt to changes in market conditions and create conditions for their sustainable long-term development.