Intellectual property portfolio aimed at improving competitiveness in the knowledge economy

Abstract

In the modern business environment tangible assets and traditional sources of competitive advantage tend to lose its strategic importance. The market value of most companies in most developed countries is based on intangible assets such as intellectual property, knowledge, innovation, etc. Financial analysts and investors increasingly recognize intellectual property as a key determinant of enterprise value and indicators of innovation - technical competence in the new era of economy based on knowledge. Intellectual property rights provide companies with the opportunity to differentiate their products through exclusivity, positioning in the existing markets or creating new ones, preventing competition from prevailing in a particular market and the reduction of risks and uncertainties relating to the introduction of new or improvement of existing products on the market. Intellectual property is a core of competitive advantage and business performance of the company. This understanding of intellectual property requires the efficient creation portfolio of intellectual property and the profitable use of one or more primary forms of intellectual property. By analyzing the data on the number of applications for the recognition of industrial property rights, we tried to make an assessment of the situation in the Republic of Serbia and determine the prevalence of certain forms of industrial property that have been registered in the last five years. The conclusion highlights recommendations for economic policies that promote the development and exploitation of intellectual property, contributing to the improvement of the competitiveness of companies and the entire economy.