Intellectual property management for SMEs

Abstract

As a fundamental element of the knowledge economy, intellectual property is widely used in the modern management of companies. Awareness of the fact that, as a carrier of knowledge intellectual property can become a competitive advantage, requires enterprises to synchronize their management strategy with their intellectual property management strategy. This is difficult for small and medium-sized enterprises (SMEs) that are just entering the competitive market. Realizing the role of intellectual property as a strategic asset, the opportunity for SMEs to generate maximum economic benefits from the management of intellectual property rights increases, which becomes a means of development and a means of creating value. The present study is aimed at revealing strategies for choosing a regime for the protection of intellectual property of SMEs. In this regard, the concept of intellectual property management is clarified, the stages of intellectual property management are presented and the need to develop an intellectual property management strategy is justified, as well as the implementation of this strategy in the overall management and development strategy of the company. The prerequisites for developing a strategy for choosing a mechanism for the protection of the objects of intellectual property owned by SMEs are outlined. In conclusion, the difficulties faced by small and medium-sized enterprises related to the intellectual property system are outlined.

Keywords

• knowledge economy
• intellectual property
• strategic management
• intellectual property management
• mechanism for protection
• SMEs