Normally, the companies have innovations, not within a restrictive environment, but by contribution and mutual dependency with other organizations (whether institutional or non-institutional) i.e. an approach with a systemic and networking outlook deals with structural analysis and different formal and informal interactions of different components such as universities, industrial companies, entrepreneurship development centers, governmental research centers, technology transfer centers, growth centers and science and technology parks, governmental and private laboratories, and different institutions such as intellectual ownership system, national development funds and investment funds in the form of an integrated system being known as the last science and technology policy-making. Although it has not been emphasized directly on ethics in innovation system, from writers and theorists of this field it could be realized that the concept of ethics within the section of “institution” of innovation system includes some functions. In addition to investigation of “ethics” within the principles and assumptions of the approach of innovation system, this study intends to analyze and evaluate ethical realism or unrealism, intrinsic or extrinsic nature of ethical values, and the effect of co-evolution of the science, technology and innovation systems with ethical system