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Hold-up in Ventures for Technology Transfer

Author

Listed:
  • Klaus Spremann

    (University of St. Gallen, School of Finance, Swiss Institute of Banking and Finance, Rosenbergstr 52, 9000 St. Gallen, Switzerland)

Abstract

Entrepreneurs and Investors found ventures for transferring technology and bringing it closer to the market. Focussing on a situation in which the investor exercises hold-up at the disadvantage of the entrepreneur, this paper works on three points: We identify (1) conditions which make hold-up possible, and discuss (2) measures which help entrepreneurs to protect themselves against hold-up. (3) The balance of powers in a venture is related to returns to scale. Overall, the paper contributes to the theory of small-seized firms which are exposed to high uncertainties including behavioural opportunism.

Suggested Citation

  • Klaus Spremann, 2017. "Hold-up in Ventures for Technology Transfer," Technology Transfer and Entrepreneurship, Bentham Science Publishers, vol. 4(1), pages 47-53, April.
    • Handle: RePEc:ben:ttebsp:v:4:y:2017:i:1:p:47-53
    DOI: 10.2174/2213809904666161221102119
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