Intellectual Property as a Strategy for Business Development

The objective of this research is to examine the role of intellectual property (IP) in fostering business development, particularly focusing on patent management in Ecuador and its alignment with international standards. The study employs a comparative analysis of Ecuadorian legislation against the framework established by the World Intellectual Property Organization (WIPO) to identify challenges and opportunities within the national IP system. Key methods include reviewing existing legal texts, interviewing stakeholders, and analyzing patent registration processes. The findings indicate that while Ecuador has made significant strides in harmonizing its IP laws with international treaties, such as the Patent Cooperation Treaty (PCT) and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), considerable barriers remain, particularly related to bureaucratic inefficiencies and a lack of technical resources in key institutions like the National Service of Intellectual Rights (SENADI). The conclusions highlight the need for enhanced efficiency and implementation of IP regulations to stimulate sustained innovation growth, attract national and foreign investments, and, ultimately, strengthen Ecuador’s competitiveness in a global economy. This research contributes to the understanding of how effective IP management can serve as a vital tool for economic development and innovation.