Process view of licensing as a new market entry mode: The case of leading Italian pharmaceutical and biotech companies

Both monetary and non-monetary benefits may be achieved through different forms for exploiting technology. On the other hand, globalization has pushed firms to exploit their technologies on a global scale. Companies often issue licenses in foreign countries in order to enter a new market. However, not all firms deal with the licensing successfully, especially when it aims to act as a market entry mode, which then requires more coordination, organization and detailed structuring. Researchers claim that the main barrier to the successful licensing is a lack of appropriate management of it. Therefore, companies need to develop the capability for adequate licensing management. This research observes licensing, for a purpose to enter a new market, as a structured process used by leading Italian pharmaceutical and biotech companies. In this sense, the present research aims at casting light on licensing processes as a mean of market entry, gaining insights into the practices, structures and tools for its implementation.