Sanjiv Goyal

Sep 30, 2021

4 min read

Open Innovation — a myth or reality?

Although much has changed in the use, management, and exploitation of intellectual property, technical research has driven the emergence of this technology. The paradigm of open innovation can be interpreted as extending to external sources of innovation such as customers, competitors, and academic institutions. In other words, organizations that seek open innovation benefit the company and create opportunities that can’t be quantified, at least in the short term.

This idea is at the heart of our argument on the importance of open innovation in addressing societal challenges. So-called open…