While patents help protect innovations, patent expiry can lead to an explosion of creative new uses for existing technologies and create new business opportunities. As an example let’s consider 3D printing. Advertisements
I am frequently asked, “Why should my company adopt Open Innovation?” My new response will be, “Don’t you want 17% growth in earnings each year.” Let me explain.
We have all experienced it. You have a great idea but it’s rejected by your colleagues, your boss or your CEO. Rejection is common. While most people admire creative individuals, entrepreneurs or writers they can find it difficult to back … Continue reading
So, you don’t have a new idea for a wonderful product. Not a problem. Sometimes invention is reinvention. Many successful ideas are new ways of reusing existing ideas or new combinations of existing things. Here are three examples:
Nokia is seen as a company that was innovative but is in decline. It was the company that made cell phones fashion accessories. In 2008 it had a 40% share of the global mobile phone market. Today it has just … Continue reading
Got ideas for new products or services? Will other people buy them? Test this as quickly, and as cheaply, as possible. Then, you can focus your resources on developing your most promising ideas. Here’s a quick approach to market testing … Continue reading