Abstract
This paper reconsiders the process of business creation. Previous researches about business creation focused on the strategy for acquiring legitimacy, because legitimacy provides a means to overcome "liability of newness" and enables organizations to access resources that are needed to survive and grow. However, these researches did not explain the way organizations identify ideas, resources, constituencies, and legitimacy. This paper examines the process of identifying ideas, resources, constituencies, and legitimacy during business creation, and further, the implications for research on business creation under institutions are discussed.
