If an asset is speciﬁc, then the transaction costs of selling access to the brand or product knowledge to a third party may be very high.

Question

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If an asset is specific, it may require a very particular set of skills or knowledge to use it effectively. This makes it difficult and costly to sell access to the asset to a third party, as they may not have the necessary expertise or understanding to use it properly. As a result, the transaction costs of selling access to the asset may be very high.

If an Asset Is Speciﬁc, Then the Transaction Costs of Selling