- Written by Tony Williams
- Category: Knowledge Management
- Hits: 194
In a closed innovation company, intellectual property (IP) strategy is typically one of defense. In fact, some companies pursue trade secret approaches because even using patents is considered too risky of an exposure to their critical competitive advantage. In an open innovation company, traditional IP strategies hamper adoption and execution of innovation. Open innovation encourages sharing ideas and solutions with another company, not being closed and secretive.