Open Innovation: Legal Hurdles

By • on June 16, 2014

The Jipitec website noted that the phenomenon of Open Innovation has been gaining prominence over the last decade. Idea competitions have been used in a variety of industrial sectors. Nevertheless, the legal issues raised by this topic have not been broadly addressed, yet. These arise from the adverse interests of the actors. The company which organizes an idea competition would usually like to have the opportunity to comprehensively use the solutions, ideas or products submitted by the competition entrants.  The participant would like to participate to the greatest extent possible in the success of the submitted solution.  This article aims to show the contractual difficulties which have to be addressed tailoring the terms of an idea competition.

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