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Russia has created a universal business model for intellectual property market architecture

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Andrei Krichevsky, president of the IPChain Association

Germany. Berlin. March 13, 2019. Today, as we move from intangible world of intellectual property to virtual reality, we are forced to exist in the Wild West, said the president of the IPChain Association Andrei Krichevsky at the conference dubbed The Global IP Exchange in Berlin.

Intellectual property can serve as a universal tool for revealing the economic potential, showcasing a “blue ocean” of opportunities thanks to digital technologies, the expert believes.

The Institute of Intellectual Property today is both a tool for assessing the profitability of investments in human capital, and a tool for a “fast startup”, that is, an accelerator for corporations in national economies, as well as a tool for competition in a “sharing economy” – the era of co-authorships and collaborations.

However, according to Andrei Krichevsky, “the sphere of intellectual property, in the form in which we see it now, has been formed chaotically, according to the principle of a survival of the fittest. This does not allow it to become a full-fledge institution of the digital economy.”

In recent years, according to the study published by the international consulting company Baker McKenzie, a few dozens of new categories of intangible assets and intellectual property assets with a high potential for commercialization have appeared. They have not been defined, and, therefore, have not been engaged in the economic turnover.

“It includes, for instance, a corporate identity (a corporate reputation),  “museum values,” sports symbols, rights to the image/ image of a person, biometric data, social media accounts and content, virtual currencies and virtual assets, right to be forgotten, among other issues, Andrei Krichevsky said.

It is important to understand that this is not about tomorrow, not about the future, it is about today and even about yesterday.  We continue to be guided by the notions that intellectual property features, first of all, the works of literature, art, patents, know-hows, etc. In this way, we’re losing time, and at the same time we become deprived of the development of creative and scientific potential, as well as other serious economic assets.”

Andrei Krichevsky said that the business model of the market architecture based on the theory of platform economy developed in Russia enables to work with new objects of intellectual property with maximum economic efficiency.

“We analyzed the practice of the leading European and Asian economies which enabled us to produce a universal five-level architecture which both considers the interests of the state, businesses and the society. The integration of this business model has been initiated in Russia while it is been under way at different levels practically in all countries of the world. Today, we managed to get its most complete realizations,” the president of IPChain said.

The architecture of the intellectual property market, which includes the industrial ecosystem (business applications and cloud services), ecosystem, platform, infrastructure and state-legal levels, provides tools for introducing the results of intellectual and creative activities into the economic turnover.

“It allows you to quickly and efficiently develop and monetize intellectual property, that is, in fact, we have found the key to a new source of economic assets.

Obviously, there is a number of important themes, and we have to work upon them. It establishes a new approach to the evaluation of intellectual property, which will consider a real economic value in global economy and its potential, including sociometry, big data, multidimensional IP-landscape,” Andrei Krichevsky said.

The IPChain Association was established in 2017. The Association was founded by The Foundation for the Development of the Center for the Development and Commercialization of New Technologies (the Skolkovo Foundation), The All-Russian Intellectual Property Organization (WIPO), The National Research University Higher School of Economics, the Russian Union of Rights Holders, St. Petersburg National Research University of Information Technologies, Mechanics and Optics, Russian Authors’ Society (RAO), The Partnership for the Protection and Management of Rights in the Sphere of Art (UPRAVIS), Novy Vek Bank. The main goal of the Association is implementing the IPChain project, focused on establishing an international network of transactions of rights and objects of intellectual property.