| Open Innovation Practice |
Definition |
| Joint Venture |
A commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities. |
| Joint R&D |
Collaborative research and development conducted jointly by two or more parties. |
| M&A |
The area of corporate finances, management and strategy dealing with purchasing and/or joining with other companies. |
| Spin-Off |
Creation of an independent company through the sale or distribution of new shares of an existing business or division of a parent company. |
| License Out |
Selling off own IP to third parties to gain profit from internal innovation efforts. |
| License In |
Buying another company's IP to develop own business and products. |
| Innomediaries |
Using service firms to connect with a wide variety of current and potential customers. |
| Crowdsourcing |
The practice of obtaining information or input into a task or project by enlisting the services of a large number of people, either paid or unpaid, typically via the Internet. |
| Vertical Collaboration |
Collaboration with customers and suppliers. |
| Horizontal Collaboration |
Collaboration with rivals. |
| Scientific Collaboration |
Collaboration with universities and research institutions. |
