Make versus sell: examining new venture commercialization and licensing decisions

We examine factors impacting new venture commercialization decisions including intellectual property protection, complementary asset access, and internal resource levels. Our findings support our hypothesis that seeking strategic alliances with joint venture partners to access complementary assets is positively related to commercialization decisions. Findings also show that human capital was significantly positively related whereas slack financial resources were marginally negatively related to commercialization decisions. We discuss these findings as well as their implications for future research.