A key argument in transaction cost economics (TCE) is that transactions are aligned with governance structures so as to effect a discriminating – mainly transaction cost economizing – match ( Williamson, 1991 ). The archetypical problem in TCE is the vertical integration or...

In 1986, Teece proposed a seminal framework for analyzing why innovators may fail to benefit from their innovations. He argued, in part, that firms with the requisite complementary assets can often expropriate an innovator's returns especially when appropriability regimes are weak. In this...