Scholarly record

CERTIFICATE OF EXCLUSIVE RIGHT AS AN INNOVATIVE ACTIVITIES LENDING INSTRUMENT

O. A. Zhdanova, E. A. Isaeva, T. P. Maksimova

Abstract

Currently the overwhelming majority of countries worldwide recognized the need for innovative economic development and creation of own innovations that would give an impulse to qualitatively new, evolutionary development of the economy, industry, and society. Exclusive rights to intellectual property items, most often obtained on the basis of innovations, are valuable asset that can make monopolist of a single individual or legal entity, a whole state or a group of countries by giving them competitive advantages and opportunities for additional development. Despite the existence of large financial institutions, an obvious need and potential benefit of investing in innovative activities, problems of its financing are extremely acute both in Russia and in the world. In this regard, the authors of the research propose to study new opportunities of financial resources provision for innovative activities implementation. Bank as one of the key financial institutions was chosen as a reference point for analysis. It is proposed to include a non-trivial innovative activity lending scheme to the system of traditional bank functions, including its operational activities: lending with issuing a certificate of exclusive right as collateral. In the authors' opinion, the certificate of exclusive right will be a security that, firstly, grants its owner (or holder) exclusive rights to a future intellectual property item created in accordance with the contract on the basis of which the mentioned certificate was issued, and secondly, has all the mandatory characteristics of security. Therefore, in order to obtain a synergistic effect, the authors propose to unite the innovative activities market, the exclusive rights to intellectual property items market, and the banking market by introducing a certificate of exclusive right as new financial instrument and security to the securities market circulation.

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