The text below is an excerpt from the original article by Giovanna Mingarelli, published February 20th, 2012 on The Hill Times.

The main idea behind the open innovation business model is that in a world of easily-accessible and widely-distributed knowledge, many companies can no longer afford to rely exclusively on their own research. Instead, they should be encouraged to buy or license inventions or technology from other companies.

Read the full article on Hill Times