Business Models in Collaborative Research

Collaborative research has taken its place as a mainstream innovation process. Its purpose is to access external sources of technology (or other assets) and integrate them into the firm's products and services. Licensing Executives Society (LES) members take a lead role in this critical function by actively engaging a wide variety of universities, small high-technology firms, mid-market companies, and large firms. The purpose of this article is to explore the impact of business models on two dimensions of collaborative research: collaborations as an alternative to incubators and business models as a tool for assessing the opportunity portfolio and allocation of risk. We conclude with a set of management recommendations.