Theoretical distinction between tacit and explicit knowledge has emerged. The tacit knowledge is positioned in contrast with the explicit knowledge as a result of this dichotomy. However, there are indications that every knowledge has both tacit and explicit elements that cannot exist one without the other—they are complementary and create synergy for the knowledge management. The aim of this paper is to explore relevance of knowledge distinction between the 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 to the research question: Does distinction between tacit and explicit knowledge have place in the exploring of knowledge for technology transfer purposes? Content analysis was performed to process qualitative data that were collected through interviews. The research results show that the distinction between tacit and explicit knowledge is not suitable for technology transfer purposes. Knowledge consists of both tacit and explicit components. There is also an explanation for many contradictions in knowledge management studies exploring knowledge explicitness in this paper. The paper provides a better understanding of the issues related to tacit versus explicit knowledge dichotomy within technology transfer. There are theoretical implications as well as recommendations for future research in this study.