Law No. 822 “On innovation activity.”

This Law defines the organizational, legal, economic foundations, conditions for the formation and implementation of state innovation policy and regulates public relations in this field. Innovation activity shall be intended activity related to the development and implementation of innovation (new or improved results of scientific research, development work or other scientific and technical achievements) and aimed at bringing it to the market in the form of new or improved products, services, production methods or other socially useful result. State innovation policy shall be intended the activities of government bodies aimed at the development and state regulation of innovation activities, the development of a mechanism and its implementation. Subjects of innovation activity include: (a) natural persons and legal entities carrying out innovation activities; (b) owners of intellectual property objects involved in the implementation of innovative activities; (c) investors investing in innovative activities; (d) organization of innovation infrastructure; and (e) government bodies involved in the coordination and regulation of innovation activities. Objects of innovation activity include: (a) innovative products; (b) results of intellectual activity containing new and useful technical information; (c) objects of exclusive rights related to the creation of innovative products; (d) innovative and investment projects, programs, work and services related to the creation, use and distribution of innovative products; and (e) financial assets and securities of innovative organizations. Innovative activities are carried out for the purpose of production development, transfer of achievements and results of scientific and (or) scientific and technical activities on the basis of contractual arrangements. The main goal of state innovation policy is to increase production efficiency and ensure the competitiveness of products of domestic manufacturers based on the creation and dissemination of basic achievements that improve innovation, ensure sustainable socio-economic growth and achieve national strategic goals.