How do you manage intellectual property rights in open innovation projects?
Open innovation is a strategy that involves collaborating with external partners, such as customers, suppliers, competitors, universities, or startups, to create and capture value from new products, services, or business models. However, open innovation also poses significant challenges for managing intellectual property rights (IPRs), which are the legal rights that protect the ownership and use of intangible assets, such as patents, trademarks, copyrights, or trade secrets. How do you balance the benefits of sharing and accessing knowledge with the risks of losing or infringing IPRs in open innovation projects? Here are some tips to help you navigate this complex issue.