Innovate and Stay a Cut Above the Rest
The Business Insider website noted that the combination of IP ownership with an open innovation strategy empowers organizations to be engaged in the exchange of technology without jeopardizing their competitive advantage. A valuable open innovation approach puts IP that sits on the shelf internally to “work harder” in other organizations. With the adoption of open innovation, customer centric approach and collaboration with a variety of partners, new ventures with improved business models can be created to profit, scale, and continue innovating, moving faster beyond otherwise a purely corporate or start-up environment.
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