An Open Innovation Perspective For Patent Policy
An article on the Intellectual Property Watch website noted that based on in-depth interviews with thirty-one entrepreneurs in the IoT space, it was found that firms lacked awareness on Open Innovation, let alone managing IP under an Open Innovation paradigm. The young firms we talked to owned patents themselves, yet their senior management had hardly any knowledge on how to leverage IP for growth. As to the promotion of IP under an Open Innovation paradigm, this study shows that there is a stark contrast between what could potentially be achieved by leveraging IP under a novel innovation paradigm and what current market practice is. We hence urge policymakers to study further how IP could be promoted as a tool to promote Open Innovation and not keep the two subjects separate any longer.
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