Technology exploitation strategies in the context of open innovation
by Ulrich Lichtenthaler
International Journal of Technology Intelligence and Planning (IJTIP), Vol. 2, No. 1, 2006

Abstract: In the past, most industrial firms focused on applying technologies in their own products or services. Accordingly, these firms concentrated on internal technology exploitation, whereas the external mode of technology exploitation, i.e., the commercialisation of disembodied technological knowledge, was largely neglected. Recently, however, a substantial increase in technology transactions has been observed. The presence of markets for technological knowledge provides firms with additional opportunities to leverage their technology assets. Because of strong interdependencies between internal and external technology exploitation, this extension of the strategy space may influence firms' overall technology exploitation strategies. To overcome limitations of prior research, the present paper focuses on the external mode of technology exploitation. After detailing the attributes of external technology commercialisation, the monetary and strategic opportunities of these activities are addressed. Then, an integrated approach to technology exploitation strategies is developed. This integrated view may help to reduce the managerial difficulties that many firms experience in external technology exploitation despite the enormous benefits of some pioneering companies. Finally, implications of the integrated approach are discussed, and suggestions for future research are presented.

Online publication date: Thu, 27-Jul-2006

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