Profiting from technological innovation: …

285 Profiting from technological innovation : implications for integration , collaboration , licensing and public policy David J. TEECE * School of Business Administration, university of california , Berkeley, CA 94720, Final version received June i986 This paper attempts to explain why innovating firms often fail to obtain significant economic returns from an innovation , while customers, imitators and other industry participants be- nefit. Business strategy - particularly as it relates to the firm's decision to integrate and collaborate - is shown to be an important factor. The paper demonstrates that when imitation is easy, markets don't work well, and the profits from innova- tion may accrue to the owners of certain complementary assets, rather than to the developers of the intellectual property.

285 Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy David J. TEECE * School of Business Administration, University of California, Berkeley, CA 94720, U.S.A.

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  Innovation, University, Implications, California, Integration, Collaboration, Technological, Technological innovation, Implications for integration

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