The Concept of Intellectual Property and its Features in Generating Income

Abstract

This article is devoted to the study of the concept of intellectual property and its importance in economic activity. Intellectual property as a product of human creative activity is protected by copyright, patents, trademarks, trade secrets and other legal categories. The article discusses the main ways to generate income from intellectual property, including licensing, franchising, direct sales and the development of innovative products. The main characteristics of intellectual property are also analyzed, such as exclusivity, endless repetition, variability of market value and its place in the international economy. The results of the study provide important theoretical and practical recommendations for planning effective management of intellectual property and obtaining benefits from it. The article is relevant for researchers, economists and specialists engaged in innovative activities.