Title: Innovation governance for value capture – the problem and a proposed simple model-based solution

Authors: Andreas Panagopoulos, Christos N. Pitelis

Addresses: Lancaster University Management School, Bailrigg, Lancaster, LA1 4YX, UK. ' Centre for International Business and Management (CIBAM), Judge Business School, University of Cambridge, Trumpington Street, Cambridge, CB2 1AG, UK

Abstract: We aim to model the |optimal| choice on internal vs. external innovation for value capture of different-sized firms, in the context of multilevel bargaining. We find that size differentials are a major determinant for the choice in hand. We derive implications for |closed| vs. |open| innovation approaches, and we discuss managerial practice, limitations and possible extensions.

Keywords: innovation governance; firm size; value capture; patent portfolios; multilevel bargaining; patents; closed innovation; open innovation; change management.

DOI: 10.1504/IJSCM.2009.024508

International Journal of Strategic Change Management, 2009 Vol.1 No.3, pp.171 - 185

Published online: 07 Apr 2009 *

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