The relevance and importance of the chosen topic is primarily due to changes in the legal regulation of intellectual property protection due to the inclusion in part IV of the Civil code of the Russian Federation of a new means of individualization of entrepreneurs and their products – «geographical indication», in connection with the acceleration of integration processes in Russia into the world community. Currently, means of individualization of goods/services and their producers have a huge role in the development of competition for goods/services, since they contribute to the recognition of a legal entity or goods and are their distinctive feature (hereinafter referred to as means of individualization). Means of individualization help consumers of goods and services to distinguish both the producers themselves and their products, services and works performed. Often, the buyer's choice is based on trust in a familiar, well-known brand. The importance of the role of competition protection in business activity is guaranteed by clause 1 of article 8 of the Constitution of the Russian Federation. Every year, legal regulation of geographical indications becomes more and more important in the world. A few years ago, this issue was not so relevant, but with the development of legal regulation of market relations, intellectual activity has acquired a high importance in a democratic society. The General theoretical basis of this article consists of the works of such scientists as O. A. Ruzakova, E. S. Grin, S. Yu. Fabrichny, N. V. Fedorova, L. Fomina and D. A. Shishkin. The methodological basis of the article is represented by General scientific and special methods. Based on the analysis, the author formulates a number of conclusions, in particular that the introduction of a new type of means of individualization of entrepreneurs and their products will have a positive impact on the regulation of competition within the country and on the economic growth of the region and its population.