Open Innovation Insights from Experts Paul Germeraad and Wim Vanhaverbeke

Open Innovation is a rapidly evolving methodology for accelerating new product development. Rather than developing innovations and new technologies secretly in a corporate laboratory, firms embracing Open Innovation actively seek new ideas from outside the firm and actively solicit ideas for their toughest challenges. According to Wikipedia: The central idea behind open innovation is that, in a world of widely distributed knowledge, companies cannot afford to rely entirely on their own research, but should instead buy or license processes or inventions (i.e. patents) from other companies. Companies who have successfully implemented Open Innovation programs include AkzoNobel, P&G and GE. Paul

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Intellectual Asset Management Should be Affordable and Easy

For rapidly growing innovative companies, intellectual assets (patents, trademarks, copyrights and trade secrets) are the ultimate source of competitive advantage.  These assets usually underpin the company’s valuation and must be managed carefully.  The person responsible for managing the IP portfolio must orchestrate and coordinate activities of inventors, outside counsel, in-house IP operations staff and external service providers.  At MaxVal, we see our clients’ IP managers struggle with juggling docketing systems, spreadsheets and patent workflow management in general.  As the number of patent applications and foreign filings grow, keeping track and being able to report on status becomes a significant problem.

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