There is no consensus among scholars using and defining knowledge types and their interaction. Theoretical distinction between tacit and explicit knowledge have emerged. Tacit knowledge is positioned as contrast to explicit knowledge as a result of this dichotomy. However, there are indications that all knowledge has both tacit and explicit elements which can not exist one without the other – they are complementary and creates synergy for knowledge management. The aim of this paper is to explore relevance of knowledge distinction between tacit and explicit knowledge for technology transfer purposes. Brief review of literature, draft discussion and One-on-One interviews were performed in order to find the answer on the research question: Does distinction between tacit and explicit knowledge is in place exploring knowledge for technology transfer purposes? Content analysis were performed to process qualitative data collected through the interviews. Research results show that distinction between tacit and explicit knowledge is not in place for technology transfer purposes. Knowledge consist of both tacit and explicit components. Also explanation for the reason why there are so many contradictions in knowledge management studies exploring knowledge explicitness is given in this paper. The article will provide a better understanding of issues related to tacit versus explicit knowledge dichotomy within technology transfer. Theoretical implications as well as recommendations for future research are given in this study.