The article analyses an economic and law support it the innovation activity with aim to justify a topicality to amplify law field and systematization legislation concerning innovation activity. In the article main goals for codification an innovation legislation of Ukraine are determined. The analysis of activity of innovation's subjects was made in the article; purposes for enchant organization, financial and law support, stimulation, control of innovation processes in Ukraine were suggested.

The definition of innovation activity as a commercial activity connected with getting a new knowledge and realization that others market participants is presented. It was justified that the understanding of innovation is in line with the traditional concepts of business which is typical for foreign entrepreneurs. The thesis that the aim of innovation activity is not only produces social and economic effect from the use of intellectual potential, but also making a profit was argued and proved.