Profiting from Innovation

This lecture explores the concept of innovation as the use of new knowledge to offer new products, processes, or services, involving invention, commercialization, and appropriation. It delves into imitability, complementary assets, and the importance versus control of various assets in the context of launching new ventures. The discussion includes a framework for understanding the interplay between imitability and the control of complementary assets, highlighting the impact on value capture and competitive dynamics. The lecture concludes by emphasizing the significance of opportunity identification and strategic decision-making in navigating different quadrants of the complementary asset framework.