Fostering an Innovative Environment for Transitioning from Traditional to Digital Intellectual Property Economy

Purpose: The aim of this article was to develop a conceptual economic and legal approach for intensifying the functioning and development of the innovative and intellectual environment in Ukraine, taking into account the capitalization of intellectual property rights, methodical approach to management decisions and transformative changes, in the context of the transition from the traditional to the digital economy of intellectual property. Design/Methodology/Approach: The logical model of the origin and circulation of intellectual capital, associated with the further transformation of innovative technology, as well as with active innovative management aimed at the production and sale of innovative products of appropriate quality in compliance with a set of standards, is considered. The originality includes the transformation of economic intellectual resources into intellectual assets and a methodological approach (formation model) of assessing patterns and making management decisions regarding intellectual assets, which require an assessment of their effectiveness from the perspective of economic added value (EVA), achieved by choosing methods of capital investment, which includes intellectual capital, the profitability of which exceeds the value of the enterprise's (firm's, company's) capital. Findings: Enterprise asset (capital) management requires an assessment of their efficiency from the point of view of economic value added (EVA), which involves choosing ways to invest capital, including intellectual capital, the profitability of which will be higher than the cost of capital of the enterprise (firm, company). Such a methodological approach, supplemented in the model of intellectual capital, justifies managerial decisions regarding the transformation of intellectual resources into enterprise assets. Practical implications: The subject of the research includes the problems of the formation of an innovative and active environment, which holds high practical significance in the perspective, since in domestic economic science there is a lack of both comprehensive theoretical justifications and analytical works that would reveal the applied features of the content of the formation of an innovative and intellectual environment, thus necessitating a thorough research. Originality/Value: The originality of the research is based on the fact that the economic and legal perspectives of intensifying the functioning and development of the innovative and intellectual environment in Ukraine were considered in terms of the definition of the "innovative and intellectual environment", its features, the relationship with human intellectual capital, the definition of intellectual property rights, a complex of interconnected systems in the infrastructure of innovative activity, a mechanism for the creation and functioning of production and financial formations related to the development of innovative potential, and with an organizational and functional structure that includes the transition to the intellectual property market.