ON THE WAY TO FORMATION OF THE INSTITUTIONAL THEORY OF COMMERCIALIZATION OF INNOVATIONS
The development of the institutional theory of commercialization is explained by means of the patterns of market economy development as a whole; by patterns of interdependent development of institutionalization and commercialization resulting from their integral influence on the development of economy and society; and patterns of strengthening the institutionalization of innovations commercialization during the development of the institutions of socialization in the modern economy. Institutional theory of commercialization of innovations describes the patterns of markets development and institutions of commercialization, summarizes the effectiveness of institutionalization of private acts of commercialization, and formulates the causes and conditions of institutionalization of commercialization of innovations.