MODERN-DAY DRIFTS AND DIFFICULTIES IN THE DEVELOPMENT OF THE INTELLECTUAL PROPERTY MARKETS AT THE GLOBAL LEVEL

Authors

  • Dr. Y. V. Kiran Kumar , Mr. Naveen Teja Sistla Author

Abstract

The study covers the dynamic processes of digitalization and the growth of the creative industries, which are forming new economic trends globally. Having the legal right to use intellectual property, especially the products of cutting-edge science and technology advancements in AI, blockchain, IoT, big data processing, quantum computing, cloud computing, etc. The prospects for intellectual property owners to participate in global value chains and the global economy are greatly increased by these advances. In addition to serving as the primary instrument for socioeconomic advancement, intellectual property also serves as a focal point for intense technological competition around the world and the right to own it, which is essential for winning geoeconomic contests. The primary long-term trend in the evolution of international markets for intellectual property is the explosive rise in trade in products and services that include IP, together with a notable expansion in the scope of the latter. The market for intellectual property is expanding faster than other real-estate sectors. For a considerable amount of time, the United States has held the top spot in terms of the quantity of active patents. Among the most significant technological developments is the growth of the intellectual property market in terms of auxiliary technologies, which enable the global manufacture of goods based on digital descriptions. Trade in licences occupies a significant portion of intellectual property markets. It is demonstrated that the movement of commodities containing intellectual property objects in the new technological mode, as well as the prospects for the successful and effective growth of intellectual property markets, must be taken into consideration.

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Published

2024-03-22

How to Cite

MODERN-DAY DRIFTS AND DIFFICULTIES IN THE DEVELOPMENT OF THE INTELLECTUAL PROPERTY MARKETS AT THE GLOBAL LEVEL. (2024). International Development Planning Review, 23(1), 1732-1747. https://idpr.org.uk/index.php/idpr/article/view/274