Technology Market Transactions

'This study of technology auctions is long overdue. The book provides a better understanding of intermediaries, and their role and impact in markets for technology. Both scholars and managers will find it insightful.' Alfonso Gambardella, Bocconi University, Italy 'From this book, managers, academics and innovation policy makers will all benefit from new insights into the complex relationships between external technology exploitation strategies, patents, technology trade and open innovation processes. The convincing evidence drawn from a dataset of technology auctions helps firms to understand which of their patents are suitable for auction, and also provides guidance to intermediaries to help improve the auction models. The data presented in this book contributes to further price transparency on technology markets and hence to their further development.' Hugo Tschirky, ETH Zurich, Switzerland Within the open innovation paradigm, firms need to operate efficiently in markets for technology. This book presents original research on technology transactions, market intermediaries and, specifically, the role of auctions as a novel transaction model for patented technologies. Frank Tietze delivers an in-depth discussion of the impact of empirical results upon transaction cost theory, and in so doing, provides the means for better understanding technology transaction processes in general, and auctions in particular. Substantiating transaction cost theory with empirical auction data, the author goes on to explore how governance structures need to be designed for effective distributed innovation processes. He concludes that the auction mechanism is a viable transaction model, and illustrates that the auction design, as currently operated by market intermediaries, requires thorough adjustments. Various options for possible improvements are subsequently prescribed. The theoretical facets of this book will strongly appeal to business economists, whilst its practical implications will provide an illuminating read for both academics and practitioners in the fields of innovation and intellectual property. Revealing empirically substantiated technology prices, this book will also prove to be of great interest to policy makers for further developing the markets for technology.

Technology, Market Structure and Internationalization discusses the domestic and external factors that impinge upon the process of technological capability building in developing countries and draws policy implications. Specifically, it examines the interaction between technological effort in developing countries. Providing fresh insights, this volume will be of interest to researchers in development economics as well as to those involved with the creation of policy in developing countries.

The past two decades have seen a gradual but noticeable change in the economic organization of innovative activity. Most firms used to integrate research and development with activities such as production, marketing, and distribution. Today firms are forming joint ventures, research and development alliances, licensing deals, and a variety of other outsourcing arrangements with universities, technology-based start-ups, and other established firms. In many industries, a division of innovative labor is emerging, with a substantial increase in the licensing of existing and prospective technologies. In short, technology and knowledge are becoming definable and tradable commodities. Although researchers have made significant advances in understanding the determinants and consequences of innovation, until recently they have paid little attention to how innovation functions as an economic process. This book examines the nature and workings of markets for intermediate technological inputs. It looks first at how industry structure, the nature of knowledge, and intellectual property rights facilitate the development of technology markets. It then examines the impacts of these markets on firm boundaries, the division of labor within the economy, industry structure, and economic growth. Finally, it examines the implications of this framework for public policy and corporate strategy. Combining theoretical perspectives from economics and management with empirical analysis, the book also draws on historical evidence and case studies to flesh out its research results.

Organisations are information intensive systems, operating in dynamic and competitive markets, structured around complex physical and political infrastructures. This book characterises the critical nature of these environments through strategies for business information technology management (BITM).

This book presents a comprehensive look at the issues related to the commercialization of intellectual property, and contains three major themes that infuse all of the concepts presented: value creation, speed, and entrepreneurship. It enables readers to understand different business models and processes from mainstream types of businesses, and teaches them how to successfully commercialize the intellectual property they develop. The book focuses on management, marketing, product development, and operations strategies that work in a high tech environment. A four-part organization covers: The Foundations of Technology Commercialization, Intellectual Property and Valuation, Financial Strategies for Technology Start-Ups, and The Transition from R&D to Operations. For potential entrepreneurs and corporate venturers.

A comprehensive guide to the dynamic area of finance known as market microstructure Interest in market microstructure has grown dramatically in recent years due largely in part to the rapid transformation of the financial market environment by technology, regulation, and globalization. Looking at market transactions at the most granular level—and taking into account market structure, price discovery, information flows, transaction costs, and the trading process—market microstructure also forms the basis of high-frequency trading strategies that can help professional investors generate profits and/or execute optimal transactions. Part of the Robert W. Kolb Series in Finance, Market Microstructure skillfully puts this discipline in perspective and examines how the working processes of markets impact transaction costs, prices, quotes, volume, and trading behavior. Along the way, it offers valuable insights on how specific features of the trading process like the existence of intermediaries or the environment in which trading takes place affect the price formation process. Explore issues including market structure and design, transaction costs, information flows, and disclosure Addresses market microstructure in emerging markets Covers the legal and regulatory issues impacting this area of finance Contains contributions from both experienced financial professionals and respected academics in this field If you're looking to gain a firm understanding of market microstructure, this book is the best place to start.

This book provides a unique set of empirical and theoretical analyses on the conditions, determinants and effects of the exchange and trade of technological knowledge. This work delivered by the research team lead by Bernard Guilhon shows that technological knowledge is more and more traded and exchanged in the market place. When and where contractual interactions are implemented by an institutional set-up which makes_the exchange better reliable for both parties. The new evidence provided by the book moreover makes it possible to appreciate the positive role of major knowledge rent externalities provided by the new quasi-markets for technological knowledge. Trade in technological knowledge leads in fact, as the book shows, to higher levels of division of labor, specialization and efficiency in the production and distribution of new technological knowledge. This dynamics is considered a part of a broader process where the generation of technological knowledge is itself becoming closer to the production of goods so that the division of labour among learning organization plays a growing role. Exchange of technological knowledge takes part because the conditions for appropriability are now far better that currently assumed by a large traditional literature. The analysis carried out through the book builds upon the notion of localized technological knowledge and suggests that the exchange of technological knowledge is not a spontaneous 'atmospheric' process.

Chile's export diversification and industrial development since 1974 represents a laboratory case of market liberalization based on neoclassical principles. Advocated by the World Bank as the chief development strategy for most developing countries, Chile implemented what the World Bank is recommending as the lesson of East Asia. The book examines whether the continuous implementation of these policies since 1974 turned Chile into a Tiger. This book investigates these issues in detail with original evidence and analyses at the macro, industrial and microeconomic levels.