Contracting for Innovation

Nick Argyres
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Nick Argyres: Olin Business School, Washington University in St. Louis, USA

Chapter 7 in Innovation and Growth:What Do We Know?, 2013, pp 159-173 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn order to compete successfully, companies are finding that it is increasingly important to capitalize on innovations generated outside the organization. Creating and capturing value from outside innovations is often difficult, however, because it involves the challenge of managing potentially hazardous contractual relationships with outside organizations, whether they be universities, firms, research institutes, etc. In this chapter, I discuss three approaches to managing these relationships: contract design, relational governance and tournaments. I discuss the relative importance of these three approaches, interactions between them, and situations in which they might substitute for, or complement, one another.

Keywords: Innovation; Innovation Management/Climate; R&D; Strategic/Process/Operational Innovation (search for similar items in EconPapers)
Date: 2013
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