If that sounds like you, then you may be better off employing a licensing model rather than a traditional business model for commercializing your intellectual property. In order for the licensing model to work: A technology or other intellectual property must be protected through a patent, copyright, trademark, or trade secret in order to prevent other people from using it.
Gerry George and Adam Bock conducted a comprehensive literature review and surveyed managers to understand how they perceived the components of a business model. In further extensions to the design logic, George and Bock use case studies and the IBM survey data on business models in large companies, to describe how CEOs and entrepreneurs create narratives or stories in a coherent manner to move the business from one opportunity to another.
They recommend ways in which the entrepreneur or CEO can create strong narratives for change. Since innovating firms do not have executive control over their surrounding network, business model innovation tends to require soft power tactics with the goal of aligning heterogeneous interests.
As a result, open business models are created as firms increasingly rely on partners and suppliers to provide new activities that are outside their competence base .
In a study of collaborative research and external sourcing of technology, Hummel et al.
Researchers codified their research into a sourcing business model known as Vested also referred to as Vested Outsourcing.
Vested is a hybrid sourcing business model in which buyers and suppliers in an outsourcing or business relationship focus on shared values and goals to create an arrangement that is highly collaborative and mutually beneficial to each.
In the case of pipes, firms create goods and services, push them out and sell them to customers. Value is produced upstream and consumed downstream.
There is a linear flow, much like water flowing through a pipe. Unlike pipes, platforms do not just create and push stuff out. They allow users to create and consume value. Alex Moazed, founder and CEO of Applicodefines a platform as a business model that creates value by facilitating exchanges between two or more interdependent groups usually consumers and producers of a given value.
In an op-ed on MarketWatch,  Choudary, Van Alstyne and Parker further explain how business models are moving from pipes to platforms, leading to disruption of entire industries. Platform[ edit ] There are three elements to a successful platform business model.
This infrastructure enables interactions between participants. The Magnet creates pull that attracts participants to the platform. For transaction platforms, both producers and consumers must be present to achieve critical mass.
The Matchmaker fosters the flow of value by making connections between producers and consumers. Data is at the heart of successful matchmaking, and distinguishes platforms from other business models.
Chen stated that the business model has to take into account the capabilities of Web 2. He suggested that the service industry such as the airline, traffic, transportation, hotel, restaurant, information and communications technology and online gaming industries will be able to benefit in adopting business models that take into account the characteristics of Web 2.
He also emphasized that Business Model 2.Aug 06, · The business model you choose needs to tie to the consumer pain point your startup is relieving, and work better than the competition's.
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