Abstract

Commercialization of intellectual property plays an important role in improving the business environment and is the focus of much attention today because of its contribution to economic development. The main prerequisite for the commercialization of intellectual property is laws protecting intellectual property, a requirement that is met by the Iranian legal system. In this study, we examined the overall role of intellectual property in the economic development. Then, while reviewing laws protecting industrial property in the US, South Korea, Malaysia, Japan and Singapore, we investigated the major requirements for commercialization of industrial property.

Intellectual property may be commercialized through 1- establishment of a new firm in the form of start- up or spin-off; 2- assignment; 3- licensing or franchising; or 4- mutual investment i.e. joint venture. While reviewing the above-mentioned methods, we studied the valuation of industrial property was.

Fortunately, there is a favorable legal basis for the commercialization of intellectual in Iran which includes among others the 2007 Act on Registration of Patents, Industrial Designs and Trademarks, the Fifth development plan Act of 2011, and the 2010 Act on the Protection of Knowledge-Based Companies. There are, however, shortcomings and challenges in this field, namely: the absence of coherent policy making and planning, lack of targeted protections, the lack of development agencies specializing in commercialization, Lack of necessary legislation to clarify the legal relationship between the parties to contracts related to of commercialization, and the lack of expertise in the field of commercialization in particular the valuation of intellectual property. This research, therefore, endeavored to expound the existing legal bases and capacities, to identify shortcomings and challenges, and to propose solutions in this regard.

Keywords:

Industrial Property, Commercialization, Legal Requirements, Business Environment, Valuation