ECONOMIC POTENTIAL OF INTELLECTUAL PROPERTY

By Tamaz Shilakadze and David Bibiluri
Intellectual property, as other ones, has the own customs. It’s impossible that good farmer doesn’t know the value of assets it owns and doesn’t protect them from falsification. Unfortunately, intellectual property is not well assumed and considered in today’s Georgia.
On the present stage of development, more effective becomes the juridical provision of intellectual innovations, as, in terms of strong competition, it’s unimaginable to establish the products on the world market in manufacturing process of, which producers do not utilize modern technologies, original constructions, efficient designing decision-making or marketing and advertising works those carry out certain now-how and require huge investments. As the result of that, the product or the group of that, on the one side, occupy the certain part of market and on the other one, relevantly, creates the huge image for company and trademark.
Unfortunately, intellectual property and mostly entrepreneurial one play tiny part in improving the macro and microclimate of country. It’s expressed with the fact that immense values presented with nonmaterial actives are not employed and even stipulated.
Nonmaterial actives encompass intellectual property, licenses, publishing rights etc. They all have the appropriate market value. Table shows trademark prices of the 10 leading companies in the world in 2000, researched by Interbraand Consulting Company.
As the table shows, trademark prices reache the tens of billion dollars and does present the items for sale. For example, FORD purchased five trademarks of British LEND ROVER in 2000, including RANG ROVER, DISCOVERY, FREELANDER and DEFENDER that was the property of BMW till now.
On the one side, it’s pleasant that Georgia is mostly called “the country of huge intellectual potential”, but indeed, using and managing intellectual product incorrectly will bring to loss.
Assumption and management of intellectual potential are the questions of another discuss. Should be mentioned that world utilizes different kinds of potential assumption, which stipulates juridical, geographical, economical, historical and social factors. Unfortunately, there are no acts of improving that in Georgia. Therefore, privatizing the certain enterprise, stipulation of value of intellectual property was not carried out in most cases. However, many of enterprises have gained the scientific, constructor, inventing and other activities with the sigh of now-how.
On the background of all highlighted above we may now conclude that Georgian Trade Chamber, The Society of Inventors and Rationalizators of Georgia, The Agency of Intellectual Property and others interested can accept togrther the normative acts, recommendations and methodological directions, to assume the intellectual property and maximal utilization of nonmaterial activities to strengthen economy of country. For that, we’d be better creating the real structure with the help of what intellectual property could bring the actual material profit for both, the owner of it and whole country.