Problems and prospects of the use of industrial intellectual property by small and medium-sized enterprises when entering foreign markets

Abstract

Nowadays, intellectual property (IP) is becoming an integral part of almost every aspect of the development of international economic relations. At present, in the context of the development of the real sector, industrial intellectual property is of particular relevance. Protected industrial IP is a key tool and an important competitive advantage that small and medium-sized enterprises can use to enter foreign markets, raise additional capital, develop and scale their activities in global markets. Research from a number of industrialized countries shows that the vast majority of small and medium-sized enterprises (SMEs) that are holders of registered IP assets report that such assets have a positive impact on the company’s goodwill and reputation, prospects for doing business, and capitalizing on existing intangible assets. However, to maximize the benefits from the use of industrial IP in foreign markets, companies from developing countries should take certain actions and measures, including those adopted in close cooperation with their governments.