Open and Networked Innovation

Jaakko Paasi, Katri Valkokari, Tuija Rantala, Soili Nystén-Haarala, Nari Lee and Laura Huhtilainen
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Jaakko Paasi: VTT Technical Research Centre of Finland, Finland
Katri Valkokari: VTT Technical Research Centre of Finland, Finland
Tuija Rantala: VTT Technical Research Centre of Finland, Finland
Soili Nystén-Haarala: University of Eastern Finland, Finland
Nari Lee: University of Eastern Finland, Finland
Laura Huhtilainen: University of Eastern Finland, Finland

Chapter 2 in Bazaar of Opportunities for New Business Development:Bridging Networked Innovation, Intellectual Property and Business, 2012, pp 23-59 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractMost of the readers may have heard ad nauseam how in the present business environment fast-changing global competition requires firms and other network actors to look for new models to innovate. Uncertainty, complex products, distributed knowledge as well as social media have been listed as the main factors why firms cannot be innovative and competitive alone. Furthermore, Open Innovation has formed the latest popular fad, although most of the ideas behind the concept are not new.1 The Open Innovation literature argues that the future belongs to those who do the best job of integrating the best of their internal ideas and knowledge with the best external ideas and knowledge. In the words of Henry Chesbrough: “open innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. [This paradigm] assumes that companies can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology.”2…

Keywords: Open Innovation; Networked Innovation; Intellectual Property; Business Management; IP Strategy; Business Contracting; Knowledge Management (search for similar items in EconPapers)
Date: 2012
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