Challenges of Open Innovation and Intellectual Property Issues

Open innovation is not widely adopted by firms due to intellectual property issues.

In open innovation, it is easy to determine how gains from a new product or service should be distributed between collaborating parties.

Having many ideas generated is always a positive measure of success in open innovation.

Establishing an efficient internal structure is not necessary for open innovation to succeed.

In open innovation, stakeholders should not be informed about the status of their idea submissions.

Challenges related to processing ideas efficiently are common when using crowdsourcing models in open innovation.

In open innovation, profits should always be shared equally between collaborating parties.

Innovation requires knowledge, ingenuity, and dedication.

Knowledge Push innovation is commonly observed in the Food industry.

Need-Pull Innovation is innovation that comes from personal necessity.

Process Innovation is about seeking creativity and risk-taking in business operations.

Crisis Driven Innovation arises from the need to act immediately.

R&D spending in China and Europe has been decreasing over recent years.

All employees can participate in Process Innovation according to Peter Drucker.

Innovation opportunities usually manifest in only one way, according to Peter Drucker.

Fear of global warming has had no impact on stimulating innovation according to the text.

Innovation driven by personal necessity is known as Knowledge Push innovation.