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New knowledge with commercial potential is continually created in academic institutions. How is it turned into economically valuable businesses? This paper argues that the transfer is an entrepreneurial process. To understand this, the actions and the constraints characteristic for the entrepreneurial reshaping of the division of labor must be recognized. In the case of knowledge-based entrepreneurship, specific constraints result from the peculiarities of scientific knowledge -epitomized by constrasting tacit and encoded knowledge. Scientifically trained labor is required for transferring both forms of knowledge. However, the mode of transfer differs crucially and shapes the organizational form of commercializing new scientific knowledge.

Considers some external aspects influencing the dynamics of firms’ knowledge base. Argues that the successful management of the knowledge base in a fast changing innovative environment is closely related to three kinds of knowledge acquisition channels, these are: the recruitment of people; the external informal networks of employees; and formal cooperation of the firm with other institutional agents. Focusing on firms’ interaction with research institutions, suggests a typology of scientific knowledge which allows us to analyse how different types of knowledge are associated with different knowledge acquisition channels. Because of the close interlinkages among the channels, knowledge (unlike information) is not freely floating in the system. Rather, its effective transfer and commercial exploitation is contingent on the mobility of people, as well as the extent to which they draw on their informal networks. Spells out some of the implications for recruitment policy and firm location.

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in abstractNew knowledge with potential commercial value is created, replicated, and transferred in a distributed manner. The highly systemic nature of knowledge production and the need for any knowledge to be individually acquired and expressed in order to produce an effect, jointly constrain the dynamics of knowledge commercialization. This paper analyzes the nature of these constraints from an individualistic perspective, focusing particularly on the often neglected entrepreneurial aspects of the knowledge transfer. It explains how the constraints are overcome by organizational adaptations inside firms so that a sustained knowledge transfer into the commercial sphere of the innovation system can be secured.JEL code: D23, D83, J24, M13, M51, O31, O40 _____________________________

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