MANAGEMENT OF INTELLECTUAL PROPERTY RIGHTS IN THE ECONOMY SPHERE

Abstract

The article explores modern approaches to managing intellectual property rights in the business sphere and defines the legal, economic, and managerial aspects of this process. It substantiates the necessity of integrating intellectual property management into a company’s overall business strategy as a key determinant of competitiveness and sustainable growth. The study analyzes the current state of Ukraine’s intellectual property protection system, highlighting both institutional progress and persistent challenges related to enforcement, digital piracy, and coordination between institutions. The stages of intellectual property management - identification, acquisition, commercialization, protection, evaluation, and monitoring - are systematized and discussed in detail. Emphasis is placed on the commercialization of intellectual property as a strategic tool for generating income, increasing intangible assets’ value, and expanding market presence. The paper also underlines the importance of harmonizing Ukrainian practices with international standards such as WIPO, and ISO, ensuring legal recognition and competitiveness in global markets. The conclusions stress that effective management of intellectual property rights is not merely a legal obligation but a strategic component of innovative and economic policy. Intellectual property should be viewed as a strategic resource that enhances a company’s resilience, financial stability, and ability to adapt to digital transformation and globalization challenges, particularly in the context of Ukraine’s European integration. The implementation of an integrated intellectual property management framework will facilitate sustainable innovation, attract foreign investment, and strengthen Ukraine’s position in the global knowledge economy. Developing a culture of intellectual property awareness among enterprises and policymakers is crucial for unlocking the full potential of intellectual assets as drivers of national competitiveness. Ultimately, aligning intellectual property management with long-term development goals will foster innovation-led growth and contribute to Ukraine’s successful transition to a knowledge-based economy.