Tsibenko A.Yu. Intellectual Capital as a Mandatory Criteria and Basis of Venture Business in the Field of Innovations

Aleksandr Yuryevich Tsibenko
Postgraduate Student, Department of Civil and Legal Disciplines,
Russian Presidential Academy of National Economy and Public Administration (Volgograd Branch)
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Gagarina St., 8, 400131 Volgograd, Russian Federation

Abstract. Venture capital which has its own characteristics, risks and benefits is one of the most promising and timely directions in the context of the innovative economy formation. The transition to a new qualitative level in the economic conditions of innovations, through which the country can once again become a powerful Eurasian state, requires a transformation and improvement of the legal infrastructure of venture capital investment. Traditional financial technologies are not able to perform the tasks of investment innovation, so this problem has received its approval in the world through the creation and functioning of the mechanism of venture activities.

The article considers the ratio of venture capital and innovative entrepreneurship, certain peculiar features of the legal nature of the two types of businesses, which are often wrongly identified by Russian doctrine and business practices. Economic and legal nature of venture capital activity is defined as a financial, as well as intellectual innovation. The author identifies the interconnection and interdependence delimiting and at the same time unifying the criteria of the studied business activities, thus creating a basis for such identification. 

It is concluded that the intellectual capital is among the mandatory uniform characteristics and innovative business ventures, determining their legal nature.

Key words: entrepreneurship, venture financing, venture capital, innovation, innovative
entrepreneurship, high-tech projects, results of intellectual activity, intellectual resource,
industrial realization of innovative results.

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