The social implications of the current system of intellectual property rights protection are often questioned, but mostly from conflicting, mutually contradictory ideological starting points. Furthermore, the combined effect of digital transformation and existing models of intellectual property protection, if not accompanied by appropriate public policy analyses and consequent regulatory reforms, can make the system unfair, more difficult to navigate and rights more complicated to uphold. Starting from existing scientific, professional and practical insights, as well as the needs of society in Serbia, this public policy proposal seeks solutions that would respect intellectual property rights, preserve the benefits of digital transformation, while adhering to the principles of inclusiveness, social justice and economic optimality. The publication first deals with the basic features of a targeted, desirable model of intellectual property rights protection in the context of digitalization, and then analyzes the basic features of the current situation in Serbia and proposes a set of starting points for existing public policy reforms.