SUMMARY
The aim of this paper is to overcome the inability of present-day econometric models to identify the most efficient modes and mechanisms of transmitting knowledge from the academic world to industry. To do so, it incorporates knowledge-based theories (a combination of concepts from Knowledge organization, knowledge management and knowledge’s Ontology disciplines), into the analysis of the relationships between the academic and business sectors. First, we address the concepts of tacit, explicit and incorporated knowledge as units of analysis in these relationships, linking them to sources of knowledge. Some activities are identified in relation to these sources which increase and feed back knowledge to said sources by five basic processes: the acquisition, combination, creation, utilization and dissemination of knowledge. These processes are measured quantitatively by applying a knowledge management model to produce performance indicators.The results obtained stem from an empirical study conducted in 2005 in Mexico on the basis of the proposed model. Suggest that the knowledge-based approach applied to academic-industry relationships is feasible and that the methodology employed makes it possible to determine which sources of knowledge, lecturers and institutions carry out most knowledge acquisition, creation and utilization activities vis-à-vis the business sector.