Platform ecosystems: On the eve of a new breakthrough in the field of commercialization of intellectual rights
Authors:   Russian State Academy of Intellectual Property, Voronov Viktor S. , Bedanokov Murat K. ,   Maykop State Tehnological University, Chernyavskiy Sergey V. ,   Central Economics and Mathematics Institute of the Russian Academy of Sciences, Viktorov Egor I. ,   Russian State Academy of Intellectual Property
Published: October 2024

The aim of the work is to analyze the new investment capabilities that appeared as a result of the development of new platform ecosystems that form the economic circulation of digital intellectual assets of copyright. The productive ideas of the possible use of intellectual assets in financial engineering were voiced back in the 1980s, i.e., almost at the dawn of the emergence of financial engineering as a science itself. For example, in one of the first reference books on financial engineering and financial innovation, the growing use of legislation on intellectual property protection was mentioned as one of the aspects of financial engineering, the significance of which would grow in the coming years. The main stage of development is characterized by a massive transformation of business models and the transition to platform ecosystems, much more mobile and susceptible to organizational and financial innovations. A huge role in this process was played by the rapid development of information technology. The work shows that, by analogy with the period preceding the first transactions of the intellectual property secretion in the 1990s, there is currently a steady increase in the income of microstock platforms. In addition to ordinary investors, the ecosystem of microstocks includes an extensive contingent of the so-called creative investors – authors of digital images, video and sound files posted in the collections of such companies. Investors of this category are participants in the total intellectual capital successfully controlled by microstocks. The basics of the business of microstocks were laid back in the early 2000s, in fact, in the wake of the “dot-com”, when there was a stir of exciting, sound and literary content from the multimillion-dollar army of creators of the modern Internet. On the basis of ten-year observations of the portfolio of digital images, the study confirms that (1) the position of the author/investor on digital assets is not exposed to losses in the classical sense; (2) a correlation between the yield of the portfolio of digital images of the individual author and the profitability of the action of the microphotostock company, in the collection of which the portfolio is located, is absent. The results prove that the portfolio of digital intellectual assets of the author/investor can be used as a hedging element as part of a hybrid investment position that includes the shares of a microstock company. In addition, preliminary quantitative assessments of the possible contingent of investors who are interested in implementing the ideas of the proposed hybrid tool are made in the work. The study allows predicting the emergence of new ideas and investment capabilities in the field of commercial circulation of digital intellectual assets.