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International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Innovative Development of Modern Research
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

The Importance of Intellectual Property in the

Formation of an Innovative Economy

Nadida Nasirillaeva

Tashkent State University of Economics (TSUE), Tashkent, Uzbekistan

ABSTRACT Russian researcher N. N. Karpova gave her own definition of
In today's dynamically changing era, countries determine the concept of intellectual property. At the same time, for
their development path through the development of developing countries, WTO accession has highlighted the
intellectual property. The introduction of limitless scientific positive and negative aspects in ensuring intellectual
achievements in all spheres of society requires further property rights. In particular, the positive aspects include the
improvement of the sphere of intellectual property in our following:
country. This article examines the role of intellectual 1. effective protection of intellectual property rights
property in the innovation economy and important aspects improves the investment climate;
of its development. 2. development of a unified interpretation of the concept of

the use of intellectual property rights (amendments to
KEYWORDS: intellectual property, human capital, GDP, World accounting, tax and financial statements in connection
trade organization, World Intellectual Property Organization with the accounting of the use of intellectual property);
(WIPO), trademarks, commercialization 3. support for national manufacturers;
4. recognition of generally accepted trademarks on the
INTRODUCTION national market;
Innovations are the most important factors in the 5. lead to a reduction in the number of counterfeit and
modernization and diversification of the economy, ensuring pirated products.
its dynamic development and competitiveness, and further
increasing the role and authority of the country in the world At the same time, for a developing state that becomes a new
community. Therefore, today every state pays great attention member of the WTO, the following negative aspects of
to the wide use of innovative opportunities to ensure the intellectual property protection are noted:
stability of its economy and improve the well-being of the 1. the emergence of high competition in the foreign
population. Innovation is based on intellectual property. The market;
importance of intellectual property in the formation of an 2. reduction of requirements for industrial scientific and
innovative economy is invaluable and closely interrelated. technical expertise;
3. 3)loss of national producers of their positions in the
Head of our state Sh. M. Mirziyoev noted: "If we do not raise market as a result of high competition between
the issue of intellectual property to the level of state policy, trademarks in the local market;
then Uzbekistan will not be competitive in 10 years.” [1] 4. non-payment to the state budget of the fees paid when

In today's era of rapid changes and updates, it is necessary obtaining a patent by foreign applicants. [4]
not to limit with the existing achievements, but to intensify RESEARCH METHODOLOGY
work on the development of new, based on the requirements Methods such as statistical analysis, systematic analysis,
of today's intellectual property products, innovations and comparative analysis are widely used in scientific research.
improvement of intellectual property objects. One of the
urgent tasks is to conduct research on these issues and ANALYSIS AND RESULTS
develop scientifically based proposals and Today, the effective use of human capital, the widespread
recommendations. introduction of the created objects of intellectual property
into the process of commercialization and the
REVIEW OF LITERATURE transformation of the industry into a leading branch of the
Issues of intellectual property and its significance, protection economy are among the most important indicators for the
as a separate subject of research are studied in the works of economically developed countries of the world. There are
a number of foreign and our scientists. Analyzing the such intangible assets, that is, trademarks, the value of which
methods and means of intellectual property rights can be the GDP of the entire state. For example, the American
protection, Akramkhodzhaeva Z. S. focuses on the online retailer Amazon for the third year in a row occupies
development of theoretical and practical conclusions on high positions in the list of the most expensive brands in the
improving the legal norms and also the importance of the world, its value today is $ 254.2 billion. The list of the most
sphere of intellectual property in the economy. [2] expensive brands is led by Apple ($263.8 billion), Google
Toshev B.N. based his research on the development of ($191.2 billion), Microsoft ($140.4 billion), Samsung
intellectual property and copyright rights in a market ($102.623 billion), Walmart Inc. ($93.2 billion), Mercedes-
economy, the essence of international acts in the field of Benz ($65.04 billion) and others. [5]
intellectual property.[3]

ID: IJTSRD40072 | Special Issue on Innovative Development of Modern Research Page 106