Factors Inflencing the Innovativeness of the Global Economy in the 21 st Century

Abstract

Investments in research and development (R&D) have become an inseparable element of the innovation policy of the most developed economies. Expenditure on R&D is a very profiable investment that affects the potential of entities in a country. There are actions through which the process of producing new goods and services becomes very creative and unique. Creation of an environment in which human capital will have the most favourable conditions for development is the foundation of the increase in work efficiency in the 21st  century. Such a situation leads to increased competitiveness and effiiency of the global market, allowing it to continually develop. The cooperation of business and science can be a high-performance connection that currently creates the competitiveness of the global economy. A protection policy based on patents or proprietary rights must form the foundation of innovative actions that can be easily subject to theft or replicas without protection.