◆ Profit Wayfinder
Find my move

Open Innovation

Also known as: Open Business Models · Inbound/Outbound Innovation

Use external ideas and external paths to market as readily as internal ones — including licensing your IP out.

Argues firms should let knowledge and IP flow across their boundaries in both directions: bringing in outside innovation and monetizing unused internal IP through licensing, spinouts, or open models — directly relevant to opening or releasing IP as a strategic move.

Core concepts

Inbound / Outbound FlowsIP Licensing-OutOpen Business Models

Best when

  • You sit on unused patents/IP
  • Considering open-sourcing or licensing as strategy, not charity

Watch-outs

  • Opening IP can erode advantage if done without a capture model