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This paper deals with the behavior of high-tech firms, located in technological parks of the Basque Country, concerning the management of knowledge, the kind of strategic alliances they enter, and the effect of such behavior on their performance. The paper is theoretically supported by the resource--based approach (RBA) and the different views on strategic alliances and knowledge management (KM) reviewed and included in the references section. The field work included interviewing more than 66 managers and later work consisted in carrying out statistical analysis on different variables identified. Different tests prove that intangible assets related to human capital (I+D instruction and experience) contribute to the growth of business, that firms tend to enter formal I+D alliances with universities and technological centers rather than other firms, and that these agreements also contribute to the growth of firm business. [ABSTRACT FROM AUTHOR]