Abstract
The number of inter-firm collaborations of complementary partners in research intensive industries is increasing. It is not sufficient to explain this development by technological advances in information technology within the theoretical framework of transaction cost economics. An incomplete contract analysis shows that only if the technological advances increase the transferability of both, the deployed knowledge and assets, will this lead towards more collaborations. If the result is an increasing transferability of knowledge and a decreasing transferability of assets will the overall effect remain unclear. If collaborations are motivated by the aim to overcome resource constraints and not by an increase in transferability, will the collaboration be terminated as soon as the resource constraints are overcome.
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