publication . Other literature type . Part of book or chapter of book . Article . 1986

Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy

DavidJ. Teece;
  • Published: 01 Dec 1986
  • Publisher: Elsevier BV
Abstract This paper attempts to explain why innovating firms often fail to obtain significant economic returns from an innovation, while customers, imitators and other industry participants benefit Business strategy — particularly as it relates to the firm's decision to integrate and collaborate — is shown to be an important factor. The paper demonstrates that when imitation is easy, markets don't work well, and the profits from innovation may accrue to the owners of certain complementary assets, rather than to the developers of the intellectual property. This speaks to the need, in certain cases, for the innovating firm to establish a prior position in these co...
free text keywords: Management of Technology and Innovation, Management Science and Operations Research, Strategy and Management, Commercial policy, Intellectual property, Complementary assets, Strategic management, Value capture, Marketing, Economics, Dominant design, Public policy, Closed innovation
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