BRANDS IN THE INTELLECTUAL PROPERTY SPHERE

Abstract

Until February 24, 2022, the development of Ukrainian economy was taking place in the conditions of innovation sphere decline and permanent reforms in the management of intellectual property area. As a result, national companies and private individuals were gradually losing potential for patenting inventions, registering trademarks, and using branding as ways to protect intellectual property on international and national markets. The expected influx of investments from transnational companies in the post-war period will certainly spur competition in the domestic market for ownership of intellectual property rights.

Brands are an important strategic asset of capitalization and a source of competitive advantages for companies in most countries of the world and on global markets. The problematic aspects of strategic development of intellectual property sphere in Ukraine are considered in the context of the implementation of leading transnational companies’ experience regarding the use of brands as indicators of intangible assets value. A comparative analysis of well-known brand value rankings in the world and in Ukraine is conducted. It is shown that the value of the most expensive brands of Ukrainian companies is hundreds of times lower ($683.852 billion for Amazon and $525 million for Morshynska) than the value of transnational companies’ brands.

It is noted that, in contrast to the global trend of rise at high rate in applications for the registration of rights to intellectual property objects, a downward trend is recorded in Ukraine, primarily with regard to the trademark registration according to the internationally recognized Madrid system.

In view of this, it is proposed to resume work on the National Strategy for the Development of Intellectual Property Sphere, taking into account modern trends in this area and Ukraine's acquisition of the status of candidate for membership in the European Union.