INNOVATIVE INVESTING: PROBLEMS OF ECONOMIC AND LEGAL FRAMEWORK

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INNOVATIVE INVESTING: PROBLEMS OF ECONOMIC AND LEGAL FRAMEWORK

Journal Title: Економічна теорія та право - Year 2016, Vol 1, Issue 24

Abstract

Problem setting. Under contemporary conditions of market economy development in Ukraine, matters of legal regulation of new economic institutions, which, in particular, include innovative investing, are of considerable importance. Optimization of the domestic economic system based on implementation of innovations is a prior task of the governmental economic policy. Implementation of innovations within the structure of fixed capital assets of the domestic business entities should result in qualitative renovation of their technological level and provide stable competitiveness of Ukrainian commodities. Recent research and publications analysis. R. P. Boichuk, V. I. Borysova, O. M. Davydiuk, K. V. Yefremova, D. V. Zadykhailo, O. M. Vinnyk, O. S. Marchenko, A. V. Matveieva, etc., have taken notice of the mentioned problem to some extent. At the same time, not all the problems of the economic and legal framework of innovative investing are solved nowadays. Therefore, consideration of these problems and ways of their solution are of particular relevance. Paper objective. The article purpose is to research the problems of the economic and legal framework of innovative investing in Ukraine. Paper main body. Factual social relations, which are particularly, but not exceptionally, regulated by the economic law norms, are in permanent dynamic development. In the modern phase, development of market economic relations, namely investment ones, stipulates a keen need for examination of the above-mentioned matters. Investing include corporate and contractual forms. The contractual form consists in investing in an economic organization (its property or stakeholder’s equity) through foundation of the organization and participation in it in order to gain a certain social and economic effect. In turn, the contractual form mediates not only investing, but also organizing an investment process. The absence of special contractual forms regarding the transfer of innovative products is a disadvantage of the current legislation. Nevertheless, the current legislation contains particular types of contracts being the most optimal in regulation of relations concerning the transfer of such objects. The author proposes recommendations aimed at solution of these problems. For the purpose of formation of the complete, coordinated, and complex legal framework of functioning of the national innovative system, it is expedient to pass the Innovative Code of Ukraine. Another possible alternative is to amend the current Economic Code of Ukraine. Development of classification of contracts concerned with the transfer of an innovative product and development of classification of contracts concerned with innovative investing is of importance. Conclusions of the research. Consequently, there is a need for determination of legal forms of innovative investing on doctrinal and legislative levels. Development of classification of contracts concerned with the transfer of an innovative product and development of classification of contracts concerned with innovative investing is of importance.

Authors and Affiliations

Катерина Миколаївна Врублевська

Keywords

EP ID EP175336
DOI -
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