Knowledge Management (KM) and Collaboration are viewed as a key strategy for achieving competitive advantage in companies around the world. Knowledge by itself is considered one of the most valuable assets owned by an organization. In technology-based firms, it is perceived as being of the upmost value. In Baja California, Mexico, several companies exist which develop products and services using knowledge creation as a core value. In this paper, we summarize the results of 14 interviews with general managers and directors of knowledge-oriented firms to further understand which KM strategies are employed in seeking to gain competitive advantage. Results indicate that all firms adopt different approaches to KM. A common opinion amongst those interviewed was that knowledge provides greater value to businesses, improving corporate performance. All confirmed a significant relationship exists between KM, collaboration and competitive advantage.