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Industry Collaboration

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--What are the advantages and disadvantages of collaborating for research and product development?
--Why would an industry "gang up" on one company that comes out with a new technology? Could this ever cause the company with the new technology to allow the technology to be more open?

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The advantages of collaborating for research and product development are that the technical expertise and knowledge base of other companies can be used. Further, there is also a sharing of informal knowledge and knowhow that would otherwise not have been possible. The complementariness of talent in different companies can lead to synergies and output in terms of research and product development (Hamieda Parker, 2000).
The disadvantages of collaboration during research and product development are that there can be leakage of valuable trade secrets. Critical information can reach competitors leading to loss of competitive ...

Solution Summary

This solution explains the challenges that face the innovating company. The sources used are also included in the solution.