Patent exchanges give the creators access to buyers who they would not normally consider as potential customers. Buyers, likewise, can see a wider range of offers. A good product and service classification coupled with good descriptors for suppliers capabilities means that bids and offers can be more closely matched. Open markets allow buyers and sellers to see what is on offer, and what the prevailing market price is. Knowledge co-creation and development.
Markets bring together people sharing similar challenges.
The provision of online services for closed groups allows virtual organizations to be created for collaborating on new product or market development. Strategies Knowledge markets are relatively new, and like B2B exchanges, many will have to restructure or reinvent themselves significantly in the near future if they are to survive. Participating in knowledge markets is not suitable for every buyer or seller of knowledge or in specific situations. For example, where product and market characteristics are well known and the organizational impact is high, buyers often prefer competitive tendering situations with suppliers they already know. However, where the risk is small and the opportunities to save costs or gain unique knowledge are high, then going to knowledge market may yield some valuable benefits.