Spremann, KlausKlausSpremann2023-04-132023-04-132017https://www.alexandria.unisg.ch/handle/20.500.14171/103484Entrepreneurs and Investors found ventures for transferring technology and bringing it closer to the market. Focusing on a situation in which the investor exercises hold-up at the disadvantage of the entrepreneur, this paper works on three points: We identify (1) conditions which make hold-up possible, and discuss (2) measures which help entrepreneurs to protect themselves against hold-up. (3) The balance of powers in a venture is related to returns to scale. Overall, the paper contributes to the theory of small-seized firms which are exposed to high uncertainties including behavioral opportunism.enjournal article