The commercialization of knowledge assets either exclusively or in addition to their application inside the firm has recently become an important dimension of the corporate strategies of many industrial firms. Thus, external technology exploitation, e.g. licensing out intellectual property, goes far beyond a marginal activity of commercializing residual technologies. Despite the enormous benefits of some pioneering companies, however, most firms are faced with substantial managerial difficulties in externally leveraging technology.

Drawing on a dynamic capability-based understanding of external technology exploitation, Ulrich Lichtenthaler develops a conceptual framework, which addresses the main challenges of commercializing technology with a focus on strategy, process, organization, culture and reputation. On this basis he investigates the management and performance of external technology commercialization in more than 150 European firms. He presents a detailed benchmarking analysis and empirically identifies success factors for the management of external technology exploitation. Accordingly, the book is equally relevant for practitioners and academics in the fields of technology, innovation and intellectual property management.