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Article Title

BENEFITING FINANCIALLY FROM ALLIANCES: DISENTANGLING ANTECEDENTS TO UPFRONT AND CONTINGENT MONEY

Abstract

I examine the antecedents to two different types of remuneration promised early-stage technology ventures in alliance contracts: upfront versus contingent monies. I argue that the importance of the antecedents that predict upfront money paid to the early-stage technology venture at the beginning of the alliance are, for the most part, distinct from contingent money that is paid as the alliance progresses, and those types of funding should be disentangled in research that attempts to identify the monetary benefits derived from collaborative agreements. I find the predictors normally associated with funding amounts have differing impacts on upfront versus contingent money promised in the alliance contract in a sample of biotech firms.

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