Types of costs


The costs of finding information

Difficulties in accessing information (the required development can often be performed only at a limited number of research organizations), assessing and selecting the most promising solution from the possible ones. As the volume of information increases and its complexity becomes greater, it becomes more difficult to process available data, which causes spending considerable time and financial resources for studying and finding the technology needed by the enterprise, finding partners for an innovative project.

Costs of contracting

Based on the essence of technology, it is clear that the exchange participants discuss many conditions, determine the price of knowledge transferred, the mechanism of commercialization of technology. Often, the relationship of the parties to the agreement is not limited to the mere transfer of intellectual property rights. Therefore, negotiating and contracting costs much higher than, for example, the regular purchase of non-specific goods.

Shortcomings of measurement

Absence of market price for a new solution. Uncertainty and likelihood of errors in determining the expected commercial outcome of the introduction of new technologies. The need for a new product does not guarantee the success of the innovation. In many cases, it is difficult to directly measure the characteristics of a technology, such as the physical properties of a fundamentally new product.

Costs of opportunistic behavior of the overall result

Distortion of information in the technology market for intentional misrepresentation, breach of agreement. Opportunism can manifest itself both before the conclusion of a contract (for example, by not providing all the relevant data and characteristics of the invention, or by exaggerating its advantages and concealing its disadvantages) and in the process of introducing R&D results in production (in many cases, parties tend, above all, to maximize their own profit rather than to take all the necessary steps to achieve a better overall result).