The Structure and Performance of U.S. Research Joint Ventures: Inferences and Implications from the Advanced Technology Program
Research Joint Ventures (RJVs) are projects that combine the research resources of different firms. A sample of RJVs supported by the U.S. Advanced Technology Program shows that the projects yield revenues that are far less than costs. Related to this point, the RJVs are subject to commercialization delays, loss of intellectual property, and product market competition. Partner firms undertake joint research, but if they commercialize at all, they do so separately, to avoid splitting of revenues from new products. Ultimately, difficulties with the RJVs occur because frequently, firms are potential competitors.
This research was supported by the U.S. Department of Commerce. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
James D. Adams & Albert N. Link, 2018. "The structure and performance of U.S. research joint ventures: inferences and implications from the Advanced Technology Program," Economics of Innovation and New Technology, vol 27(5-6), pages 551-575. citation courtesy of