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Before any organization can reap the economic benefits of open innovation, it must overcome a number of legal, operational and cultural challenges. In this article Peter von Dyck addresses the top three obstacles to open innovation: managing intellectual property issues and other legal risks, processing ideas quickly and establishing an efficient internal structure.
Digital technologies have transformed the world we live in and innovation processes have been affected dramatically by these approaches and transformations. In this IM Channel One Roundtable Discussion on June 19, 2014 we explored how practitioners and organizations are adapting and/or rethinking their strategies and best practices for the front-end of innovation in presence of new transformational digital technologies.
The patent database, with its 69 million documents is one of the richest resources of knowledge worldwide. The real key to its application is the refined ways to distil the relevant information. This article will highlight novel patent research, and its relevance for each department of a typical company.
Over the last 5 years, Open Innovation has been evolving quite a lot in the ways it can be defined and implemented. Rather than proposing one more definition or describe one specific way to approach it, here is a set of trends I foresee based on the numbers of projects I have been involved in and the evolution of needs from organizations, would they be major corporations, SMEs or Public Services.
To be upfront about where we stand, yes – we are great supporters of tapping into the wisdom of the crowd for many pursuits – for citizen engagement, open innovation, or crowdfunding. That said, we realize that it’s important to be aware of the fact that there are risks to consider. This article is a response to the concerns raised by people we meet along an organization’s path of considering crowdsourcing to fulfill a particular need for their organization or their constituents.
As businesses increasingly shift to open innovation business models, they need to adjust their intellectual property rights management strategy. In particular, they need to determine how to interface the traditional “closed innovation” paradigm required to legally acquire IP rights with decentralized, open innovation processes.
Leading companies strategically manage intellectual property (IP) and use these assets to generate significant revenue streams. But the rules in the U.S. for protecting your IP are about to change. Now more than ever, companies need to critically access their IP processes and strategy, because the America Invents Act is coming.
A company is using your trademark without authorization. Someone copied one of your products. As a human being, your first response is to get furious. As an entrepreneur, your inclination is to seek justice. As a business owner, your course of action is to contact a lawyer. Taking legal action, however, requires great caution.
Small companies often make mistakes when working with large companies in open innovation relationships. Here are 5 of the most common errors and how to avoid them.
Many companies are scared of open innovation and aren’t taking enough action to realize its full potential, says IdeaConnection founder Scott Wurtele in this interview. Not only that, but most Fortune 500 are still only dabbling in open innovation, considering the negligible investments they are making it, and the lack of impact it has had on their core innovation processes.
September 4, 2012 | By: Chuck Frey | In:
Whose side are you on? Apple, Samsung, the designers, the future innovators, the lawyers? And what will the verdict in favor of Apple mean to all innovators?
Closed systems no longer allow the type of development – nor the realization of its benefits – required in today’s marketplace. Rather, R&D should be focused on promoting open innovation-based platforms around which entire ecosystems can be fostered. These ecosystems include both partners and competitors.
July 17, 2012 | By: InnovationTools.com | In:
Michael Fruhling rececently spoke with Dr. Horst Wenck, Beiersdorf’s Corporate VP of R+D, about his company’s approach to open innovation. One key is its OI web portal, which carefully cultivates a qualified set of external partners. Once a relationship is established, Beiersdorf forms a ‘project house,’ where qualified partners are deeply immersed in its current technical needs and challenges and the corporate intelligence it has gathered to support its OI priorities.
According to attorney Martin Nichols, entrepreneurs need to have a great deal of trust when sharing intellectual property with venture capitalists, as VCs often will not sign non-disclosure agreements. If a client is working on patentable technologies, Nichols suggests trying to button up those issues before going to meetings.
Facilitators are vital to the success of open innovation communities. However, the role of a facilitator might not have to be limited to providing relevant content or to encouraging members to connect with each other and contribute to the ongoing discussions, says open innovation expert Stefan Lindegaard.