How Firms Capture Value From Their Innovations

Sharon D. James · Michael J. Leiblein · Shaohua Lu

237 citations0/0 files storedJournal of Management

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Intellectual Property and Patents Innovation and Knowledge Management Digital Platforms and Economics

Abstract

Over the past 25 years, the technology strategy literature has examined how four primary mechanisms—patents, secrecy, lead time, and complementary assets—influence whether and to what extent firms capture value generated by their innovations. Although this literature has had a profound impact on our understanding of how firms capture value from innovation, we have yet to develop a robust theory that allows us to unbundle the characteristics of institutions, industries, firms, and individual technologies that affect the selection of particular value capture mechanisms. The purpose of this article is to provide a foundation for addressing these gaps in the literature. We identify and assess relevant scholarly work regarding value capture mechanisms published in top-tier peer-reviewed management journals between 1980 and 2011. We then review the assumptions, insights, and causal mechanisms for the antecedents and consequences of the value capture mechanisms highlighted in these articles. The ultimate objective is to identify research opportunities that help to better understand the conditions under which specific bundles of value capture mechanisms are most likely to help innovating firms achieve persistent superior performance.

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References

1990Absorptive Capacity: A New Perspective on Learning and Innovation 1973Job Market Signaling 1987The Economic Institutions of Capitalism 1992Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology 1986The Economic Institutions of Capitalism 1962Economic Welfare and the Allocation of Resources for Invention 1989Asset Stock Accumulation and Sustainability of Competitive Advantage 1986Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy

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2015Coopetition and product innovation performance: The role of internal knowledge sharing mechanisms and formal knowledge protection mechanisms 2015In Search of Process Innovations: The Role of Search Depth, Search Breadth, and the Industry Environment 2017Greasing the Wheels of Change: Bribery, Institutions, and New Product Introductions in Emerging Markets 2016Formal and informal appropriation mechanisms: The role of openness and innovativeness 2019Knowledge management and coopetition: How do cooperating competitors balance the needs to share and protect their knowledge?

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