The Internationalization of Corporate R&D

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THE INTERNATIONALIZATION OF CORPORATE R&Dcustomer company itself uses to select candidates for interviews and finalselection. Member companies pay an annual fee to YourEncore and are charged aservice fee for each retiree placement (Kostrzewa).The number of retirees in YourEncore’s network has doubled during the last year.According to Mike Kostrzewa, Executive Vice President at YourEncore, retired researchersin the U.S. would like to stay productive and have much knowledge to contribute.All retirees at YourEncore live in the U.S. and 35 percent come from threemember companies – P&G, Eli Lilly and Boeing. Initially, YourEncore’s focus was inthe chemical sector, but today more and more engineers from other areas join the network.The company actively recruits retirees in new fields and tries to identify industriesthat will be affected by large retirements.YourEncore works with trade organizations and it believes that the company is growingat a good pace. Anyone can join the network, and they become an employee ofYourEncore when they get an assignment. The retirees receive all benefits from Your-Encore and are paid a professional fee based on their exit salary (Kostrzewa).The retirees are mostly needed within development, commercialization and projectmanagement. YourEncore is not typically used for early stages of research. Retireeswork either on-site or remotely, depending on the nature of the project, and they areprimarily hired for short-term assignments that last an average of 21 days. Sometimesretirees will work for their previous employers. According to Kostrzewa, YourEncorehas a 100 percent success rate of project deliverable accomplishment, which is explainedby the fact that the retirees will not take the assignment if they are not sure thatthey can solve it. All solutions belong to the member company (Kostrzewa).YourEncore has 12 full-time employees and is located in Indianapolis, Indiana. Thecompany expects that demand will continue to grow during the coming years. Your-Encore has no presence abroad.7.5 Marketplace for Patents and LicensesTrade with patents and licenses is another part of the new innovation market. The marketvalue is estimated to be 100 billion dollars and is growing rapidly (yet2.com 2005).Transaction costs of this trade are normally high for companies but the internet allowslower cost and an easier search. Patents within a company may be licensed to othercompanies and generate incomes.According to the General Patent Corporation International, only a small percentage of allpatents in the U.S. are commercialized (Lerner). yet2.com is an intellectual property shop– an external organization that helps customer companies exploit their intellectual capital.176
THE INTERNATIONALIZATION OF CORPORATE R&D7.5.1 yet2.comyet2.com was founded in 1999 and is established in the U.S., Japan and the UK witha total staff of 20 people. After two changes in ownership, today the company isowned by its management. yet2.com helps companies create value from their technology-basedintellectual capital by finding third parties that can improve or launchproducts based on that technology, or even build a business around it. Its originalbusiness idea was focused on helping companies sell intellectual property, but thecompany has now added the business of acquiring patents, licenses and technology tooffer its customers. yet2.com is a marketplace on the internet where buyers and sellersmeet in a simple way and where the buyer can be anonymous.The needs of yet2.com’s customers vary; one company may look for a specific technologywith certain requirements, price and licensing conditions, while another companyis looking for potential investors. According to Phillip Stern, Chief ExecutiveOfficer at yet2.com, companies realize that there is no need to invent things themselveswhen there is already a solution. Apart from the online service, yet2.com helps customersto search for innovations through partner contacts, articles and databases.yet2.com helps customer-companies draft their web postings after conducting a thoroughbackground search and rigorous interview process (i.e. discussing with thecompany what they already have tried, what did not work, etc.). yet2.com screensresponses before they are sent to the posting companies and can also assist with theprocess of setting up an agreement. The cost to advertise is 1,500 dollars and companiesare also charged a professional service fee. There were a few agreements madein 2003, 10 in 2004 and 20 in 2005 (Stern).According to yet2.com, they have 100,000 registered users and about 250 clients thatadvertise on the website, including DuPont, Dow, Boeing, Procter & Gamble, Agfaand Microsoft. On the selling side, there is a mix of small and large companies wholist technologies, but on the buying side, the listings are dominated by large companies.The associated, smaller companies are typically U.S.-based. In contrast, customersfrom Asia include almost exclusively large companies. yet2.com has noSwedish customers but received interest from some business developers in Finland.There are hundreds of people from Sweden and Finland who have registered as userswith yet2.com (Stern).About 60 percent of yet2.com’s business is related to helping customers sell technologies,and about 40 percent is acquisition-related work. It has about 3,000 listings on its websiteand works actively on about 40 projects. The market is broad and yet2.com works withindustries such as pharmaceuticals, consumer products, telecommunications, etc.177
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The Swedish Institute for Growth Po
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