Besides applying technological knowledge in products and services, firms may externally leverage their technology assets, e.g., by means of technology licensing. Despite its increasing managerial and theoretical importance, outward technology transfer has been relatively neglected in prior research. We use data from 152 industrial companies to analyze how different levels of proficiency in managing different stages of the external technology exploitation process influence a firm's out-licensing performance. With the trend towards open innovation strategies, this research represents an important complement to the large number of success factor studies into new product development.
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