Based on the understanding that investment in research, development and innovation is a major driver of long-term economic performance, policy-makers in Europe have an urgent need for evidence-based policy recommendations that promote appropriate strategies for the governance, incentives and conduct of scientific research and of the knowledge transfer between public and private entities. The main objective of the Action is to improve our understanding of the process of scientific and technological development and of the transfer of scientific and technological developments to markets and into economic development. A critical mass of established and young researchers will be brought together to shed light on these issues and to develop policy recommendations. Furthermore, the Action will improve the collection, harmonization and provision of micro data and will thereby make a lasting contribution to science and technology research. The research is organized into four Working Groups: science, technology and knowledge creation; diffusion of science and technology; intellectual property rights; development of markets. Keywords : Research and development, technological development, knowledge transfer, intellectual property rights, economic performance.