Open Innovation Essentials for Small and Medium Enterprises

Chapter 1

Introduction

Open Innovation for Small and Medium-Sized Enterprises

Phyllis Speser, JD, PhD, RTTP, and Adriano La Vopa

This book is about how small and midsized companies can make money by leveraging the intellectual assets and intellectual property (IP) of others. In today’s global competition, using external sources and resources for innovation makes sound business sense, no matter what size the company. Up until now, however, most practical guides to open innovation have focused on what large companies should do. While there is a lot of overlap, small and midsized companies face different challenges and opportunities in developing, commercializing, and selling innovations—and thus how they practice open innovation should be correspondingly ...