This article studies strategic interactions between firms that form alliances to exploit synergistic benefits. Firms cooperate to create value, but they can also compete to capture value. Fundamental questions rarely addressed by strategy scholars relate to how the configuration of control over...

This paper investigates the governance design problem of a large company that wants to engage a small and cashless firm into a research collaboration. This analysis reflects the frequently observed collaborations between pharma companies and biotechs, and an actual research contract is assessed...