As Joe discussed in the previous article, Henry Chesbrough is credited with coining the term "open innovation" in his 2003 book of the same name [3]. Chesbrough describes a new model for innovation in which companies look outside their boundaries for ideas and intellectual property (IP) that they can bring inside the firm and at the same time look for opportunities to license their underutilized homegrown IP to other organizations.
Article
The Future of Open: Stepping into Open Innovation Practices
Posted November 30, 2007 | Leadership | Cutter Benchmark Review
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