Institutional methodology and the instruments of the natural science for the development of the innovation theory

The grave shortcomings of the monetary valuation of the innovation processes and innovation projects are the general result of the money units’ instability. That’s why working out of the innovation valuation methodology, which methodology is based on the natural science approach, is an actual task, and also the objective of the work. Using the methods of the institutional economy, technological relations and functions theory and the technological orders conception, we worked out the original approach to the innovation projects’ development. The approach gives a possibility to minimize the possibility of the existence of the innovation processes participants’ opportunistic behavior, and to increase the efficiency of the innovation activities. JEL kodes: O32, O33.