Open Innovation Practice |
Definition |
Joint Venture |
A commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities. |
Joint R&D |
Collaborative research and development conducted jointly by two or more parties. |
M&A |
The area of corporate finances, management and strategy dealing with purchasing and/or joining with other companies. |
Spin-Off |
Creation of an independent company through the sale or distribution of new shares of an existing business or division of a parent company. |
License Out |
Selling off own IP to third parties to gain profit from internal innovation efforts. |
License In |
Buying another company's IP to develop own business and products. |
Innomediaries |
Using service firms to connect with a wide variety of current and potential customers. |
Crowdsourcing |
The practice of obtaining information or input into a task or project by enlisting the services of a large number of people, either paid or unpaid, typically via the Internet. |
Vertical Collaboration |
Collaboration with customers and suppliers. |
Horizontal Collaboration |
Collaboration with rivals. |
Scientific Collaboration |
Collaboration with universities and research institutions. |