ECONOMIC GROWTH, INNOVATION AND COLLABORATIVE RESEARCH AND DEVELOPMENT ACTIVITIES

One of the most analysed business practices related to technology and innovation has been the coordination of the activities of rival firms and institutional bodies in Research and Development. This paper focuses on the analysis of the collaborative agreements in Research and Development. The paper is divided into two parts. The first part of the essay describes the terms of the Innovation, Research and Development, and cooperation activities, as well as their effects and importance to the successful course of the companies and the economy in general. The second part of the paper focuses on the beneficial role of innovative activities to the private business units and the market performance, enhancing, at the same time, the social welfare. [PUBLICATION ABSTRACT]