Geographical Indication in the Regional Innovative Development

The article is dedicated to the peculiarities of innovative regional development based on the use of intellectual property, in particular geographical indications. The aim of the article is to closer define the place and role of geographical indications as an object of intellectual property in regional development. The main components of the region’s innovative potential that can be directed towards territorial development are considered. It is noted that the strategy and model of regional development should have an innovative character, ensure a comprehensive approach, and determine the main vector of territorial development based on the implementation of innovations taking into account the existing innovative potential. Intellectual property is a significant lever in innovative regional development and improving the investment climate in the region, especially under conditions of resource constraints. Each territorial community has its own resources and heritage that need to be effectively utilized to achieve certain goals in territorial development. An exceptional place among regional factors influencing the competitiveness of a region belongs to products with special properties, which is primarily determined by the geographical origin of these products and/or the application of certain local production traditions. It is noted that geographical indication is a collective brand of the region and, therefore, a powerful marketing tool for the development of the territorial community. It is proved that the presence of unique products in the community provides prospects for building a cluster form of organizing innovative activities at the regional level. A proprietary approach to the innovative development of the region is proposed based on the efficient use of the algorithms for leveraging the advantages of geographical indication presented in the article.