The "open innovation" model is currently being touted as a superior path for achieving long-term success. Rather than relying on their own, limited resources for research and development in the traditional, closed invention system, firms are encouraged to share knowledge across firm boundaries...

The term Open Innovation has become popular in recent years to describe an approach to innovation that decidedly goes beyond the boundaries of a single organization by encouraging firms to pull together knowledge and creativity from a wide variety of parties. As such, Open Innovation evokes an...