The Idea Economy

Georg Weiers
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Georg Weiers: African Development Bank

Chapter 5 in Innovation Through Cooperation, 2014, pp 73-86 from Springer

Abstract: Abstract What will change in the future? Innovation is evolving. As firms are opening up to allow in ideas from inventors, an increasing division of labour will take place. This opens up an entirely new perspective on innovation. An Idea Economy emerges where ideas are traded. Anyone with an idea can approach a firma or gifted entrepreneur to realize the innovation together. Anyone can profit from their ideas even without the skills and resources to be an entrepreneur themselves. This new division of labour will lead to a new kind of innovation: cooperative innovation. This development has profound implication for the innovation process, it will reshape the nature of the firm, and will influence the way we think about innovation.

Keywords: Innovation Process; Open Innovation; Profit Maximisation; Realisation Process; Unit Production Cost (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-3-319-00095-4_5

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