Complementary assets, appropriability, and patent commercialization: Market sensing capability as a moderator

Based on the framework of profit from innovation, the factors affecting patent commercialization performance include innovation appropriability and firms' complementary assets. The framework of dynamic capabilities illustrates that appropriability and complementary assets are seizing capabilities underlying firms' dynamic capabilities, and market sensing capabilities are one type of sensing capabilities. This study argues that not only seizing capabilities but also interactions between seizing and market sensing capabilities affect patent commercialization performance. Based on the surveyed data from Taiwanese firms owning biotechnological patents, this study finds that complementary assets and patented innovation appropriability significantly positively affect patent commercialization performance. Market sensing capabilities significantly positively moderate the relationship between complementary assets and patent commercialization performance, whereas their moderating effect on appropriability and commercialization performance is not significant. Finally, this study provides suggestions for patent management practitioners.