As it is known, the President of the Republic of Azerbaijan Mr. Ilham Aliyev signed the Decree "On stimulation of inventive activity" on June 15, 2022.

The main purpose of the Decree is to support creative persons of our country in the field of industrial property.

First of all, this document provides the state funding of half of the costs paid by the right holders of citizens of the Republic of Azerbaijan for the patenting of industrial property objects - inventions and utility models in foreign countries through the international system of Patent Cooperation Treaty (PCT) administered by the World Intellectual Property Organization and their maintenance in force for the first three years.

In connection with the implementation of the Decree, an extensive meeting was held at the Intellectual Property Agency, including the participation of subordinate bodies of the organization. The event, chaired by the Chairman of the Board of the Agency Kamran Imanov, discussed the tasks facing the Agency to address issues arising from the Decree. In order to provide the legal support of these issues, instructions were given to develop a procedure for state funding of 50% of the costs paid by right holders of the Republic of Azerbaijan for the patenting of necessary acts, including inventions and utility models in foreign countries through the PCT international system and their maintenance in force for the first three years.

It should be noted that this Decree was adopted as part of the policy of increasing the business environment, which is one of the driving forces of the broad course of economic reforms in our country and a condition for economic growth. Thus, in order to support the relevant inventors of the Action Plan approved by Order No. 2947, signed by the President on June 2, 2017, it is planned to prepare proposals for the application of incentives for the state to cover part of the costs of the PCT system.

The action plan includes an increase in the number of patents, including the expected results, with the implementation of additional measures to further improve the position of our country in international rankings.

As can be seen, the importance of the field of intellectual property is growing in order to achieve the dual goal - the development of business and the improvement of the international ranking of our country. Of course, this is measured, first of all, by the value given to creative work, and our state has taken following encouraging decision in this direction.