Best Practices for Technology Development and Sourcing Transactions

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There are, however, some significant disadvantages to undertaking a technology innovation project as an in-house matter:

  • in-house development and deployment of new technologies can be costly and slow;
  • if the new technology is found to be useful in a product or service outside the company’s established offerings (or outside the needs of a company’s existing customer base), the innovating company must then develop new products and customer bases to monetize the innovation;
  • it is often difficult for a non-technology company to compete for the best technology resources at competitive rates;
  • the ability of a company to customize innovation efforts can actually become a disadvantage if the company indulges excessive customization requests (resulting in delays, more complex and high-risk deliverables, and project cost overruns);
  • a company going it alone must bear all the risk of a delayed or failed technology development effort; and
  • intensive involvement in technology development is often an unwelcome distraction from core business activity.

Against this backdrop, we turn to a variety of transaction types that foster technology innovation while mitigating the downside risks and costs associated with technology development projects.






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