The Intellectual Component of the Innovative Functioning of an Economy of Sustainable Socio-Economic Development

The intellectual component of the innovative functioning of an economy characterized by sustainable socio-economic development is examined. The study highlights the growing role of the intellectual component in the activities of economic entities aimed at enhancing the consumer attributes of products – regardless of their intended function – and boosting their competitiveness in both domestic and international markets. A decline is noted in the share of products whose novelty and originality are protected by patents for inventions, utility models, and industrial designs. Finally, the paper outlines ways to improve the intellectual component of innovation activities through the creation of cluster structures comprising scientific, educational, and industrial organizations and institutions.

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