New role and functions of hyper competitive global innovation companies in the modern economy

The article introduces a new concept of “global innovation hyper competitive companys” (GIGC), analyzes their characteristics and functions in the modern economy; defines the essence of hyper competition as a new kind of competition arising between GIGC on global, national, regional and local markets; introduces a new definition of “dominant innovation” and the related “multifunction innovation”; shows an increasing role of GIGC in today’s global economy: these companies provide the innovation scientific and technological development, they act as locomotives of the world economy, are the bases of the economies of most developed countries of the world; receive a global information rent and hyper competitive profit.

global innovation hyper competitive companies, hyper copetition, dominant innovation, Information rent, global economy, hyper competitive profit