Unveiling the Dynamics of Innovation Commercialization: Exploring the Moderating Influence of Appropriability and Specialized Complementary Assets

Abstract

This empirical study investigates the intricate process of innovation commercialization and explores the moderating effects of appropriability mechanisms and specialized complementary assets. Drawing upon the resource-based view and transaction cost economics, we examine how firms navigate the challenges of translating innovative ideas into commercially viable products or services, particularly considering the role of appropriability mechanisms such as patents, copyrights, and trade secrets, as well as specialized complementary assets such as unique capabilities, infrastructure, and strategic partnerships. Through a comprehensive analysis of survey data collected from a diverse sample of firms across various industries, we assess the extent to which these factors moderate the relationship between innovation activities and commercialization success metrics, including market penetration, revenue generation, and competitive advantage. Our findings reveal nuanced insights into the interplay between innovation strategies, appropriability mechanisms, and specialized complementary assets, shedding light on how firms can effectively leverage their intellectual property and resource portfolios to enhance the commercialization outcomes of their innovative endeavors. Furthermore, we discuss implications for firms' strategic decision-making, intellectual property management practices, and innovation ecosystem collaborations, offering actionable recommendations for fostering a conducive environment for innovation commercialization in today's dynamic business landscape.