IPChain Association: “Russia is among the top five countries in terms of investments in technology, science and culture”

Russia ranks fifth in the world in terms of investment in technology, research and culture. This was told by Andrey Krichevskiy, President of the IPChain Association, following a breakfast meeting on the second day of the Global IP Exchange Forum in Berlin.

“Russia is one of the world’s top five leaders in terms of investment in technology, research and culture”, Krichevskiy said.

However, according to him, only 35-40 thousand patents are registered in the country and no more than 4.5 thousand transactions with them are carried out annually. “This gives reason to believe that the intangible assets market in Russia is so small that any discussion about the importance of intellectual property is nothing more than hype”, the agency’s source noted.

At the same time, according to Krychevskiy, today there is an active development of the network market, as digital and social networks are integrated into the life of each individual. In his opinion, this allows us to talk about the presence of two markets for intangible assets: the outdated “analogue” market and the modern “digital” market.

“While the analogue market is dwindling, the digital market, on the contrary, is flourishing and actively expanding. This is happening not only in Russia, but in all the countries with which we interact”, Krichevskiy added.

According to the source, the reason for the rapid development of the digital intellectual property market is the fact that the digital environment involves a large number of people, creators of intellectual property items, and, in addition, that the digital environment stimulates the union and collaboration of authors around the world.

“It is the digital market of intangible assets that has the potential for development, and its participants need new methods of evaluating intellectual property instead of the outdated ones”, Krichevskiy concluded.