The rule of law as a factor of innovative economic development

An urgent task of modern jurisprudence is searching for legal factors and conditions that contribute to the transition of the Russian economy to an innovative development path. The implementation of the rule of law is seen as one of such factors. The author analyzes the influence of the rule of law on innovative development and proves its adaptation in the countries of continental law (on the example of Germany). The main role of the rule of law in innovative development consists in formation of three necessary legal elements of the innovative economy: a regulated institutional environment, interrelated normative means and judicial practice on innovation issues. In the Russian Federation, the principle of the rule of law is given undeservedly little attention, which impedes effective functioning of economic, legal and public institutions