However, this isn’t the principal type of technology transfer that superior nations would prefer. The indirect mechanism implies technology transfer in a “package deal” or a “bundle” containing technology-embodying equipments, industrial properties like patents and trademark, talent, fairness capital, etc.
The direct mechanism consists of transfer of technology by way of banks, journals, industrial festivals, technical co-operation, movement of expert folks and so forth. Here there’s a alternative for the developing nation to pick out the appropriate technology that best suits their requirement.
Very usually, the terms and situations of switch are arbitrarily settled under extremely imperfect market circumstances by the technology supplying multinationals. Capital drain occurs as a result of heavy borrowings from the World Bank which ends up in improve in the social overheads. In such a scenario, it’s next to impossible for a creating nation to pump capital into activities concerning analysis. Moreover, the large a part of the inflow of technology in developing countries is in response to the coverage of industrialization via import substitution. Transfer of technology from the developed to the underdeveloped countries is made in numerous methods.
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The idea is to deliver mechanized processes and equipments that aren’t locally available. The technology provider often takes the higher hand owing to his monopolistic strength that arises from the patents protection for differentiated products and processes.
In this method, a local enterprise negotiates with multinational firms for transport of the required parts of technology, and the terms and conditions are settled via a process of commercial transaction. Since the buying and selling partners are unequal, the phrases of contract are invariably restrictive and the value extended for the technology unreasonably high.