Intellectual capital: international experience and development issues in Ukraine

Abstract

Intellectual capital (IC) plays a key role in creating competitive advantages and stimulating innovative development of economies and organizations. Internationally, there are many successful examples of IC management that can serve as a model for other countries, and their experience emphasizes the importance of a systematic approach to intellectual capital management. Ukraine, which has significant potential in the field of intellectual capital due to its high level of education and numerous scientific institutions, still faces a number of challenges that slow down its technological and economic development. Therefore, it is important to identify the main problems of managing and protecting Ukraine’s IC by analyzing the state and dynamics of its main components in order to further develop recommendations for overcoming challenges and improving the efficiency of public administration. At the present stage, intellectual capital is extremely important for securing competitive advantages and promoting innovative development. In particular, in the context of globalization and rapid technological change, where knowledge and skills are becoming key assets. The study showed that Ukraine has a great potential for IC development, but the country faces challenges such as insufficient funding for innovation, weak mechanisms for monetizing scientific developments, and inefficient intellectual property management. A study of international experience has shown that successful intellectual capital management strategies include integrated approaches. In order to develop intellectual capital in Ukraine, it is recommended to improve the legislation on intellectual property protection, increase investments in research and development, and create favorable conditions for innovation and technological entrepreneurship. The results obtained can serve as a basis for further research in the field of intellectual capital management, its development and impact on innovation activity.