Law on innovation activity.

This Law regulates the organization, conditions, manner of financing and encouraging of innovation activities, aimed to improve the national innovation system through the development of innovation capacity and innovation infrastructure, for the needs of economic development of Montenegro, as well as other issues of importance for innovation. Innovation activity means a set of activities of the state and local self-government, business sector, scientific and academic community, civil sector and citizens, whose goal is modernization of the economy, development and application of product and process innovations, use of innovative production technologies, introduction of new business models, etc., as well as capacity development and infrastructure for such activities. Innovative activities performed by subjects of innovation activity for the purpose of innovation creation are: research and development; engineering, design and other creative activities; marketing and branding; activities related to the creation and protection of intellectual property; education and training of employees for the use of innovations; software and database development; purchase, lease or acquisition of fixed assets - facilities and specialized equipment or own production of these goods in order to create innovations; innovation management; other activities to create innovation.