Scandinavian Working Papers in Economics

Papers in Innovation Studies,
Lund University, CIRCLE - Centre for Innovation Research

No 2011/3: Organizational paths of commercializing patented inventions: The effects of transaction costs, firm capabilities, and collaborative ties

Taehyun Jung () and John P. Walsh ()
Additional contact information
Taehyun Jung: CIRCLE, Lund University, Postal: CIRCLE, Lund University, PO Box 117, SE-22100 Lund, Sweden
John P. Walsh: CIRCLE, Lund University, Postal: CIRCLE, Lund University, PO Box 117, SE-22100 Lund, Sweden

Abstract: This study examines the factors affecting modes of commercializing patented inventions using a novel dataset based on a survey of U.S. inventors. We find that technological uncertainty and possessing complementary assets raise the propensity for internal commercialization. We find that R&D collaboration with firms in a horizontal relationship is likely to increase the propensity to license the invention. In addition, the paper shows that macro-level environment conditions that affect exchange conditions, such as technology familiarity, influence the effects of capabilities on governance choice.

Keywords: transaction cost economics; knowledge-based view; collaboration ties; commercialization; innovation; patent

JEL-codes: O32

56 pages, April 11, 2011

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201103_Jung_Walsh.pdf PDF-file

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