Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets

Abstract

AbstractThe following sections are included:Knowledge and Competitive AdvantageLiberalization of MarketsExpansion of What's TradableStrengthening of Intellectual Property RegimesThe Growing Importance of Increasing ReturnsDecoupling of Information Flows from the Flow of Goods and ServicesRamifications of New Information and Communications TechnologiesProduct Architecture and Technology "Fusion"ImplicationsCapturing Value from Knowledge and CompetenceThe Nature of KnowledgeCodified/TacitObservable/Non-observable in usePositive/Negative knowledgeAutonomous/Systematic knowledgeIntellectual property regimeReplicability, Imitability, and AppropriabilityAppropriability and Markets for Know-How and CompetenceSome Sectoral Differences in the Market for Know-HowComplementary AssetsDynamic CapabilitiesExternal sensingOrganizational actionImplications for the Theory of the FirmConclusionNotes

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