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The implementation of a change in IP strategy represents a challenging task for firms, because organizational resources and capabilities (procedures, routines, and know-how) that are required in the new strategic context may be lacking. This article examines the operational solutions adopted by the semiconductor manufacturer STMicroelectronics to successfully accomplish an IP strategy shift. It shows how the implementation of the new strategic approach required a stricter cross-functional integration between IP and R&D through the arrangement of cross-functional teams, the development of proper IP management procedures, and the diffusion of an IP culture throughout the organization. [ABSTRACT FROM AUTHOR]