Modern Risk-Management Tools for Innovative Entrepreneurship in the Context of Formation of Virtual Economy

Abstract

complexity of forecasting market conditions in a virtual economy can lead to planning fallacy in the strategic management of the commercialization of an intellectual product. Nature and key types of risk management tools are analyzed. Risk management of innovative and entrepreneurial activity is defined as a process of identifying, assessing and controlling threats in the field of commercial turnover of innovative technologies and products, based on the application of special tools to minimize the negative impact of adverse events on financial results of research institutions and business entities engaged in commercialization of intelligent innovative products and technologies. The advantages and disadvantages of various tools of risk management are identified. The nature and types of intellectual property insurance as the most progressive tool of risk management of innovative activity under formation of virtual economy are analyzed. Obtained results of research provide basis for policy implications concerning development of intellectual property insurance in Ukraine in the context of digital transformation of the system of social reproduction and innovative modernization of national economy.