I'm very happy to announce that another research project I'm involved in will be included in the Best Paper Proceedings of the Academy of Management Meeting, this time for the 2012 Meeting in Boston, MA:
Exclusivity in biotech licensing deals: What makes licensors restrict their options?
Theodore A. Khoury*, Jorge Walter**, & Erin G. Pleggenkuhle-Miles***
* Portland State University, ** The George Washington University, *** University of Nebraska at Omaha
In this paper, we ask the question: How do licensing transactions unfold in technological alliances? We address this research question with emphasis on understanding the impact of technology stage, previous licensing experience, verticality of partner choice, and market relevance on licensing agreement terms. In particular, we leverage transaction-cost and resource-based theories as well as a large and novel dataset comprised of 2,809 biotechnology licensing transactions to understand when these transactional features lead to non-exclusive versus exclusive licensing outcomes. Our findings contribute to fledgling research on contracts at the transaction unit of analysis and offer implications for entrepreneurial firmsí options to enhance the chances of survival in highly uncertain product markets.
Keywords: Technology licensing; exclusivity; biotechnology industry