Intellectual Property Management in Open Innovation

Intellectual Property Management in Open Innovation involves strategically handling creativity and inventions within collaborative environments. In open innovation, companies seek external ideas and technologies while sharing their own. Effective IP management ensures that valuable ideas are protected through patents, copyrights, or trademarks, while fostering partnerships that can drive innovation. It balances safeguarding proprietary information with encouraging collaboration, enabling organizations to benefit from shared knowledge and resources. This approach enhances innovation potential, allowing for new products and solutions to emerge from collective efforts while maintaining ownership rights and commercial interests.