Choosing Equity Stakes in Technology-Sourcing Relationships: AN INTEGRATIVE FRAMEWORK
نویسندگان
چکیده
T echnology-sourcing relationships between firms involve one firm seeking access to another firm’s technology as embodied in its products, services, or capabilities. Studies on technology-intensive industries reveal the widespread use of such relationships. They span a continuum, ranging from non-equity arrangements at one end to complete ownership at the other. For instance, a pharmaceutical firm such as GlaxoSmithKline could have a non-equity partnership to in-license a molecule from its technology partner, or a hardware firm such as Cisco Systems could acquire a start-up firm for its product development team. Although both are examples of technology-sourcing relationships, they vary in terms of the level of equity that the technology-sourcing company holds in its partner.
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