Studying network structures and network content from knowledge-based view and network theory, we conceptualize a framework of knowledge network. Our approach defines sequences as the set of network structure, knowledge heterogeneous, and knowledge cognition a firm coordinates with partners to accumulate knowledge capabilities. Using a sample of 144 high-technology firms in Taiwan, we empirically identify three critical factors of knowledge network and demonstrate their relationships that the firm can facilitate its innovative performance by considering the effect of knowledge cognition. The network structure can provide us with significant insight about the circulation of knowledge within a firm's relationships if we also disclose the content of the network. In short, while knowledge flow within a firm's relationships are discussed with regard to the network structure and content, the ability of the firm to manage and benefit from such knowledge becomes the critical issues in network research. We discuss the implications of these findings for research on the accumulation of knowledge capabilities.