DEVELOPMENT OF THE INNOVATION ENVIRONMENT: THE ROLE OF INTELLECTUAL PROPERTY IN GENERATING INNOVATIONS

The article examines the relationship between innovation and intellectual property as a fundamental component of the innovation process. It was established that there is a direct correlation between the level of economic development of the country and the volume of innovations created in it, which is supported by the analysis of the global innovation index. The reasons behind Ukraine's lagging behind innovative countries were identified, including limited investment in research and development, inadequate enforcement of intellectual property rights, limited cooperation between scientific institutions, industry and government, bureaucratic obstacles, lack of qualified specialists in certain fields, and brain drain. Protective documents of intellectual property rights, such as patents or certificates, serve as powerful tools not only for protection, but also for stimulating the emergence of new innovations. The analysis of the number of patent applications confirms the increase in their number, which indicates an increase in the innovative activity of economic entities and efforts in the development of new technologies, inventions, products and services to meet societal needs. The author made a conclusion about the relationship and the role of IP in the process of producing innovations.