EFFECTIVE SUPPORT OF IP POLICIES FOR PROMOTING INNOVATIVE DEVEL-OPMENT

Abstract

The article examines the role of intellectual property rights in the process of innovative development of the economy in modern world. Based on the report of the World Intellectual Property Organization on global innovation index, main trends in the economic development of states are analysed, and  the role of innovations in this process are put in the centre of attention. The importance of commercialization of innovations is emphasized. The role of protection of intellectual property rights at different stages of innovation activity is also considered, and the main areas in which innovative development is directly related to ensuring these rights are identified. The article examines the experience of Azerbaijan from the point of view of the abovementioned processes and identifies areas that are most important for the development of the country's innovative economy, according to the author.