Openness Verses Intellectual Property

Innovation experts at 100%Open believe that the traditional system of protecting intellectual property (IP) does not promote openness and collaboration. They recommend a new framework where ideas and patents are shared for mutual growth. The authors argue that ideas are worthless until realised, but creativity and innovation thrive on collaboration and iteration. In addition, openness can be a powerful tool for protection since sharing work publicly creates a documented and time-stamped record of the creation of the idea. The article gives examples in sectors such as automotive, toys and consumer goods, and banking and finance, where new approaches to intellectual property are being experimented with. The authors conclude that instead of the traditional, complex and costly process of protecting ideas, openness is often the best way for businesses to defend and launch new products and services.