Advances in Economics and Business Vol. 5(1), pp. 29 - 32
DOI: 10.13189/aeb.2017.050104
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Intellectual Property Rights and Consumer Behavior


Maria Markova *
University of National and World Economy, Sofia, Bulgaria

ABSTRACT

The paper "Intellectual property rights and consumer behavior" is focused on IP rights for product innovations and business indicators of the company and their influence on the consumer behavior. The objective of this paper is to reveal the business offer as a complex of IP rights and as a factor of consumer behavior into 2 main aspects: 1. Product innovations with IP rights as a complex utility for consumer. 2. Business indicators with IP rights as an exclusive market proposition. This paper considers the matter of market characteristics of the business offer with implemented product innovations with IP rights for an invention, utility model and industrial design and the business indicators as trademarks, graphic designs, and domain names. The production and marketing of new products with obtained intellectual property rights the whole economic cycle goes through different phases: from a project of innovation to a market proposition with distinctive signs of IP protection. The implementation of IP into a business offer has the significant aim to achieve economic benefits from the implemented innovations and/or business indicators and to receive future revenues from the exclusive market proposition for the consumer. The final part of this paper is focused on the economic aspects of market characteristics of IP as a factor influencing the consumers and as a factor of the company competitiveness based on IP. To prove these conclusions in this paper are used examples of good practices of the successful companies, market studies and IP research.

KEYWORDS
Intellectual Property, Consumer Behavior, Innovation, Business Indicators K49

Cite this paper
Maria Markova . "Intellectual Property Rights and Consumer Behavior." Advances in Economics and Business 5.1 (2017) 29 - 32. doi: 10.13189/aeb.2017.050104.