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Do you know the difference between open and closed innovation? Dr. Mariana Moreti explains in the column Explaining Law What is Open Innovation? “Open innovation assumes that companies can and should use external, as well as internal, ideas and pathways as they seek to advance their innovation process. It is the use of intentional inflows and outflows of knowledge to accelerate internal innovation and expand markets for external use,” wrote researcher Henry Chesbrough. What is Closed Innovation? A company that chooses to keep its innovation efforts closed has its projects developed only within clearly defined boundaries. Know-how, technology, processes and intellectual property remain under its own control; without collaboration with other market agents or universities, for example. According to Professor Henry Chesbrough, Closed Innovation is based on the view that innovations are developed internally. From idea generation to development and marketing, the process occurs exclusively within the company. The scientist concludes by saying that this concept refers to the “traditional model of vertical integration, in which internal activities lead to products and services generated in-house and then distributed”. Where are the differences between Open Innovation and Closed Innovation? Open Innovation seeks the best, wherever it is – conscious import and export of knowledge to improve and accelerate its own innovations. It promotes the exchange of ideas and experience beyond the company’s boundaries. → Subscribe to our channel to receive all the news: / adviseoficial → Check out more content at: https://blog.advise.com.br → Learn about our legal software: https://advise.com.br Find us on social media! → Instagram: / adviseoficial → LinkedIn: / adviseoficial → Facebook: / adviseoficial