Legal support of state regulation of innovation activity in Ukraine

The article considers the issues of legal support of state regulation of innovation activity in Ukraine, as well as the creation of a favourable institutional and legal framework for the entities of the innovation process. The author determines the basic Ukrainian laws which regulate the innovative activity and the role of the Verkhovna Rada of Ukraine in the creation of legislative base in the sphere of innovative activity. The paper substantiates the necessity of legislative framework improvement for the implementation and normal operation of the model of innovative development in Ukraine. The drawbacks of the present legislative base of innovation activity regulation in Ukraine are analyzed. The article determines the main features of the innovative activity and the ways of implementation of innovative activity regulation, and the reasonability of introducing a mechanism for strengthening the interest of commercial banks to increase investment. Special attention is paid to the issues of innovation risks; the list of the most common types of innovation risks which are associated with the instability of the economic legislation is suggested.