The determinants of a firm's innovative capacity are rooted in organizational design, incentives, human resources, internal culture, and external linkages. Profiting from innovation is always a challenge and licensing is one of many options

The note on which an entry for the Palgrave Encyclopedia of Strategic Management will draw offers a beginner's guide to path dependency in technologies and organizations. We address the very meaning of the concept and its centrality in various aspects of economic analysis. We outline the various...