This dissertation contains three essays on the theme of industry-level innovation and different aspects of innovation. The essays contribute to the literatures of institutional theory, categories, commercialization, evaluation, responsible innovation, and governance of innovation. Over the past few decades, the world has observed a wave of commercialization which has changed the way many actions are performed. One of the key features has been that of the state relinquishing its control over many activities that are now performed in the market. This wave of commercialization has given rise to some unique and innovative forms of organization within existing industries. Some of the outcomes of these innovative forms of organizations are the emergence of new categories, hybridization of existing categories, tensions between various stakeholders because of the hybridizations, emergence of new performance evaluation systems, and new questions being raised on ethical and moral grounds concerning the application of such innovations. In this dissertation I have attempted to address some of these aforementioned aspects of industry-level innovation.