Knowledge-based economy is a new phenomenon which has impact on all aspects of social life. There are different names and definitions of it. The aim of this article is to identify the features of this current development stage of the world economy and point out some conclusive facts which may be useful for managers and researchers in their professional activities.
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The article discuses the increasing significance of protecting intellectual property rights in the knowledge based economy. The most common approach to this problem which can be seen in the public debate stresses the role of technological competition between market players and says that reforms of intellectual property protection system should facilitate process of obtaining patent protection for bigger amount of innovations of all kinds for longer time. This should encourage all companies to invest in research and development, which will improve innovation capability of the whole economy. The article shows that realization of this common belief can lead to some counterproductive results, which can especially be important in case of knowledge based economy sectors. On the other hand, the article argues that the discussion on intellectual property protection should not only concentrate on the technological competition process, but it should also take into consideration an influence of the reform on the technological cooperation process. This is especially important in case of creating an institutional background for cooperation between so called general purpose technology sectors and application technology sectors, which can be the core of innovation process in the knowledge based economy.
The ambition of the European Union to realize the Lisbon Strategy and to initiate processes which would enable the Union to achieve this aim constitutes a special challenge for new member states. The article is aimed at answering the question how real the chances are to create in those countries a modern economy based on knowlede. Besides describing the present situation in the economies of those countries in the context of goals of the Lisbon Strategy, the author highlights the most important objectives which those countries should achieve to make the implementation of the strategy the real thing. He also attempts to make an appraisal of the current policy of particular states in this context.
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