What is Know-How as a Factor of Production?
Know-how is an important factor of production because it involves accumulated skills and knowledge. In some cases, it can also include trade secrets. Factors of production are the building blocks or elements we use to produce products and services. These include initiative, labor, and capital. For example, long-serving workers have knowledge, expertise, and skills that cannot be taught in a book or school. How do people with 40 years of service explain what they have learned to newcomers? This is a good example of know-how.
What is Know-How Production Factor?
What are the Characteristics of Know-How Companies?
Know-who is the ability to acquire, transform and apply that know-how. Know-who-based companies know who has the know-how; they have the active empathy to quickly establish the trusted relationships needed to acquire that know-how; and they have the multiple competencies needed to transform and apply it in a new context so that innovation can take place. Knowing who has the know-how opens up new opportunities for corporate entrepreneurship through the discovery and creation benin b2b leads of new knowledge and inventions. Know-who can also translate the results into practical processes for the global use of innovation.
These companies attract and develop outward-looking entrepreneurs and systematically develop multiple networks. They work not only for R&D and innovation, but also for the overall management of knowledge and skills within and outside the company. In a highly holistic manner, these networks draw on external sources of creativity and technology to commercialize the knowledge acquired through external and internal networks.
Know-How Companies Features
What is a Know-How Agreement?
When we say Know-How, as we mentioned above, it is the transfer of relevant information to a company or a professional who uses it.
Know-how contracts should not be confused with patents. A know-how contract is a range of information, some of which are confidential. With a know-how contract, this information can be transferred to another company or professional. Of course, there are certain conditions for this. The advantage of a know-how contract is that the contracting party that receives this body of information is likely to have a market difference before its competitors if it accesses information that will provide it with a competitive advantage.