Technology can be acquired in various ways and deciding which option is best for your own particular company can be complex and challenging.
This guide, produced by The Institute of Manufacturing, is designed to provide support for firms looking to acquire new technologies from external sources/providers rather than relying solely on their own internal R&D activities. One of the report’s findings is that aside from a formal contract, establishing mutual trust is a key factor in any relationship. Firms which achieve this are more likely to repeat collaborations in the future.
The report’s step-by-step approach includes four handy checklists to help companies going through the process:
- Identifying your firm’s motives for technology acquisition;
- Assessing your company’s ability to absorb the new technology;
- Assessing compatibility between you and your potential partners;
- Assessing the suitability of the technology for your needs
The guide is aimed at those managers most likely to be involved in the decision-making process such as senior managers in R&D and supply chains, (open) innovation managers, IP officers, product, business and finance managers. The authors believe the guide should be helpful to both the acquirers and also those looking to sell a technology and recommend that it should be read before negotiations begin.
Read the full workbook:
Technology Acquisitions: A guided approach to technology acquisition and protection decisions, Dr Letizia Mortara and Dr Simon Ford, IfM, 2012
Recommended by David Probert, post by R&D admin