The importance of intellectual property protection

In accordance with the established stereotype, the material relations are mainly established by law, and being intangible phenomena of new ideas and technologies, management decisions do not have specific forms for assessing their significance, economic and social aspects, or legal norms. This leads to the spread of piracy in the intellectual sphere. For this reason, the development of intellectual property protection tools is an urgent task. Intellectual property protection is the main direction of innovation. The state of the patent system itself can both stimulate and inhibit the innovation activity of enterprises. Given the particular intangible nature of intellectual property, the absence or loss of patent rights means the loss of this property itself. At the moment, the patent system covers all stages of the development of a new product, following the main research, including marketing. For this reason, its protection and the prevention of unfair competition are among the strategic objectives of any company.

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