This work attempts to scrutinize different approaches to innovation management on international and as well on a corporate level with an accent on intellectual property regimes. After analyzing the critical areas, the author synthesizes an optimal solution for each level where the innovation management is usually applied. On the national and international level, conceptual frameworks seem like a viable basis for an intensified innovative environment rather than over-regulated guidelines that result in a slow pace of innovation processes and de-motivated inventors. Therefore, the optimal solution should seek the balance between antagonistic innovation management approaches. The main obstacle the international community should urgently adjust is intellectual property rights regimes. The convenient solution to this global problem would speed-up the innovation processes in both developed and underdeveloped countries improving the standards of living everywhere.