How the Next Generation Enterprise is Different
From Behind Closed Doors to Open Innovation (part 4 of 10)
Conventional wisdom says you should control and protect proprietary resources and innovations -- especially intellectual property -- through patents, copyrights and trademarks. If someone infringes your IP, get the lawyers out to do battle.
Of course, most of the IP a company develops should be protected. But business today is more complex. A new economics of intellectual property is arising. Increasingly, and to a degree paradoxically, firms in electronics, biotechnology and other fields find that maintaining and defending a proprietary system of intellectual property often cripples their ability to create value. Smart firms are treating intellectual property like a mutual fund -- they manage a balanced portfolio of IP assets: some protected and some shared.
Yes, companies should always protect their crown jewels -- but they can't collaborate effectively if all of their IP is hidden. It may make sense to share some IP within your business web or more broadly with customers. And it may make sense to give some away -- to place it in "the commons." Our experience and research shows that is not altruism; it's the best way to build vibrant business ecosystems that harness a shared foundation of technology and knowledge to accelerate growth and innovation.
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