Authors: Ulrich Lichtenthaler
Addresses: WHU – Otto Beisheim School of Management, Chair for Technology and Innovation Management, Burgplatz 2, D-56179 Vallendar, Germany
Abstract: Firms increasingly license out their intellectual property besides applying it in their own products. Despite the enormous benefits of some pioneering companies, however, most others experience considerable managerial difficulties. Because of the major opportunities and risks of licensing, a firm|s out-licensing strategy constitutes an important component of corporate strategy. The examples of some pioneering firms suggest that the strategic planning process plays a critical role in developing a successful licensing activity. Therefore, this paper explores how firms may develop out-licensing strategies in the context of open innovation and how they may align these strategies with their overall corporate strategies.
Keywords: licensing; intellectual property management; open innovation; corporate strategy; technology exploitation; strategic planning; out-licensing.
International Journal of Intellectual Property Management, 2009 Vol.3 No.4, pp.386 - 395
Available online: 08 Jul 2009 *Full-text access for editors Access for subscribers Purchase this article Comment on this article