RT Book, Whole DB /z-wcorg/ DS http://worldcat.org ID 223413945 LA English T1 When does start-up innovation spur the gale of creative destruction? A1 Gans, Joshua., Stern, Scott,, Hsu, David H., Intellectual Property Research Institute of Australia., PB Intellectual Property Research Institute of Australia PP Melbourne, Vic. YR 2002 SN 1447-2317 AB This paper examines the determinants of commercialisation strategy for start-up innovators. The authors examine whether the returns on innovation are earned through product market competition versus cooperation with established firms (through licensing, alliances or acquisition). The authors' hypotheses are that the relative returns to cooperation are increasing in (a) control over intellectual property rights, (b) low transaction costs, and (c) sunk costs associated with product market entry. Using a novel dataset of the commercialisation strategies of start-up innovators, the results suggest that the pro-competitive impact of start-up innovation - the gale of creative destruction - depends on imperfections in the market for ideas.