Value networks and business models of innovative enterprises in modern economy

Value networks have come into being in modern economy as a result of the deconstructions of value chains in most industries. Meanwhile, the innovation networks and the complementary asset networks have taken their shape. Modern innovative enterprises, as a new type of enterprises emerging in these networks, take knowledge assets as their core resources, innovation activities as their main value activities, and intellectual properties as their main operation units. There are several patterns of utilizing innovation networks to obtain and create intellectual properties continuously and also several patterns of making use of complementary asset networks to commercialize these intellectual properties effectively, which together compose the business model of a modern innovative enterprise. Cross case study discloses the different business models of modern innovative enterprises and testifies the theoretical hypothesis, leading to some primary conclusions and policy suggestion.