The R&D Limited Partnership model of organization and management, subsequently modified as the Limited Liability Corporation (LLC), has become an organization of choice for innovative new businesses, with three basic uses evolving. One allows formation of vertically integrated collaborative efforts to assist new, entrepreneurial organizations in accessing missing time-critical skills and resources. The second allows large companies to form portfolios of entrepreneurial new businesses outside the change-resistant corporate culture, while providing missing skills, resources and risk capital for accelerated development and commercialization. The third use, which may eventually prove the most important, provides a means for developing new businesses andjobs in developing countries by coupling entrepreneurial small businesses in those countries with large companies in the U.S. and other industrial countries. The model was successfully piloted in Israel and then “cloned” in India and several other countries.
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Volume 48, Issue 5, September-October 2005