Governance of Inter-firm Innovation Projects: a Transaction Cost Perspective

Continuous technological innovation and valuecreation are often seen as crucial for the long termsurvival of companies. Traditionally, most innovationprojects were conducted within the boundaries of thecorporation. Nowadays, it has become increasinglymore common to involve key partners, even instrategic research and development work. One reasonfor this is the great potential for technologicalinnovations when cooperating more closely with keypartners. However, close cooperation with one or afew partners involves risks. Hence, appropriategovernance of inter-firm innovation projects is crucial. This book examines how inter-firm innovation projectsshould be governed to achieve superior innovativeperformance and value creation. The book provides newand important insights regarding the governance ofinter-firm innovation projects, and should thus be ofhigh relevance for academic scholars as well asbusiness executives.