Importance As profit-making entities intensify their financing and innovative activities, it requires to stimulate progress drivers, including intellectual capital. If it is adequately evaluated, it shapes financing and innovative activities of profit-making entities, influencing their basis and performance growth. Objectives The research devises methods to evaluate the strategic factor for developing profit-making entities' innovation, i.e. intellectual capital, and substantiates areas for its practical application. Methods The theoretical and methodological framework of the research includes proceedings of the Russian and foreign scholars, practitioners, legislative and regulatory documents of the Russian Government, Oslo Administration, and publications on the formation and evaluation of intellectual capital. The methodological framework relies upon systems, logic, situational and process-based approaches to studying the formation and evaluation of intellectual capital as a strategic factor for developing innovation of profit-making entities. Using methods of analysis, synthesis, grouping, expert judgment, systems, economic and statistical approach, coefficient analysis, we devised a factor-based method to evaluate the development of innovation in profit-making entities. Results We formulated the concept of intellectual capital in relation to profit-making entities, expanded theoretical and methodological approaches to its formation and evaluation. We devised the method to evaluate it concerning such mutually related areas as patent portfolio, special-purpose human and reputation capital. It helped to evaluate initial internal and external conditions for innovation. Conclusions and Relevance The innovation development evaluation method applies to profit-making entities, treats intellectual capital per component, and pursues identifying financial and innovative risks of profit-making entities at the first innovation phase, thus generating a positive effect of innovation.
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