of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … accumulation, investment, and upgrading of knowledge and (ii) the implementation of mechanisms that enable knowledge to be … exploited such that growth and societal prosperity are encouraged. Knowledge is a necessary but far from sufficient condition …

Researchers increasingly recognize that entrepreneurial employees, intrapreneurs, play a critical role in innovation …

possess this tacit knowledge, inventors may need to play an active role when patents are commercialized. We build on Arora … (1995) and model firm-inventor cooperation in the commercialization of a given invention. Tacit knowledge warrants inventor … first phase that matters for profitability. Thus, our interpretation is that tacit knowledge and close cooperation between …