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The paper analyses some of the critical business challenges related to knowledge management In research and development centers within the ICT industry. In modern world and societies with developed and globally competitive economies, knowledge has become a fundamental source of competitive advantage. The paper stresses the importance of knowledge management for a long-term success of an organization and presents key aspects of securing global competitiveness by implementing knowledge management in the research and development centers. Furthermore, it elaborates on the critical importance of knowledge transfer within and across organization. The main challenges and characteristics of knowledge transfers are presented and analyzed. The analysis is performed on the examples of ICT research and development centers.