CAJ | 학술논문

技术成果熟化的机制设计需要满足信息有效、降低交易成本和激励兼容等条件。“一条龙”模式、“模块化”分工模式、“孵化器”模式、“专利集合”模式等是为促进术成果顺利熟化和技术新创企业成长的4种可行模式，其共性在于减少交易环节，打通和理顺技术价值链与产品链、融资链和管理链，使成果在相对一体化机制中得以熟化育成增值。技术成果熟化模式选择取决于熟化交易各方对预期与实际交易价值、成本和风险的比较。
기술성과숙화적궤제설계수요만족신식유효、강저교역성본화격려겸용등조건。“일조룡”모식、“모괴화”분공모식、“부화기”모식、“전리집합”모식등시위촉진술성과순리숙화화기술신창기업성장적4충가행모식，기공성재우감소교역배절，타통화리순기술개치련여산품련、융자련화관리련，사성과재상대일체화궤제중득이숙화육성증치。기술성과숙화모식선택취결우숙화교역각방대예기여실제교역개치、성본화풍험적비교。
The maturating mechanism design of technological achievements has to be information effective,transaction costs smaller,and incentive-compatible.There are four viable options which can promote and nurture the growth of technologi-cal startups,that is,"a coordinated process"mode,"modular division of labor"mode,"incubator"mode and"patents in-tegration"mode,each of which if adopted appropriately can help these startups to overcome the"Death Valley"from R&D to commercialization.The commonality of the four modes lies in the minimization of resale and exchange,and the e-radication of obstacles in the chains of technological value,production,financing and management,thus maturating and fostering technological achievements in a relatively integrated mechanism.The choice of four maturating modes depends on the comparison of expectations and actual conditions which counterparties facing transaction value,transaction costs and transaction risks.