Premium
Contract Law and the Governance of Inter‐Firm Technology Partnerships – An Analysis of Different Modes of Partnering and Their Contractual Implications*
Author(s) -
Hagedoorn John,
Hesen Geerte
Publication year - 2007
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.2006.00679.x
Subject(s) - equity (law) , intellectual property , corporate governance , business , industrial organization , perspective (graphical) , finance , law , political science , artificial intelligence , computer science
This paper studies some major legal implications of inter‐firm technology partnering through equity joint ventures, non‐equity partnerships, and licensing contracts. These different partnerships are placed within the classical and relational contracting perspectives, while also considering intellectual property rights issues. Samples of contracts of partnerships in bioscience, fine chemicals, biotechnology and biopharmaceuticals are analysed, in detail, with reference to the distribution of property rights, major contractual clauses, and measures for conflict resolution. Equity joint ventures and non‐equity partnerships are found to largely follow a relational contracting perspective, while licensing contracts are governed by a classical contracting perspective.