Promotion of Innovations through the Creation of Joint Ventures "University - Business"

Abstract

In the paper approaches of creation of joint enterprises of spin-outs on the basis of universities are considered. They take into account that the creation of joint ventures “university-business” can become one of the most effective forms of commercialization of innovations of defense enterprises, universities and research institutes. This is due to the fact that the characteristics of innovation that are created within the scientific institutions, such as high specificity, low specification and protection of property rights, as well as the need for consulting services for developers, require the application of more “hierarchical” forms of institutional arrangements, such as the agreement on joint venture. In addition, combining the potentials of a scientific organization and a large industrial enterprise creates a powerful synergetic effect, which contributes to increasing the competitiveness of enterprises of the defense-industrial complex. It is worth noting that, within the framework of the joint venture “university - business”, the enterprise not only provides financing, but also provides back-out management personnel, production facilities, sales channels, trade mark and other key assets. The paper also discusses the main problems that create obstacles for the creation of joint ventures “university - business”, the specifics of the specification of property rights for assets belonging to autonomous and budgetary institutions. There is a contradiction between the provisions of intellectual property rights and limited property rights - the right of operational control. The paper draws conclusions and suggests recommendations for improving the institutional environment for the development of spin-outs of universities and research institutes in the format of a joint venture.