Why Open Innovation is Key for IP Strategy in the Internet of Things

 

Written by Roya Ghafele, Executive Director of OxFirst LTd.

 

Formulating an IP business strategy under an Open Innovation paradigm will play a major role for the future of the Internet of Things. This is because the IoT thrives on multidirectional exchange and can be viewed as a network. Such a market context fits well with an Open Innovation paradigm, which recognises that innovation is ubiquitous and that innovation benefits from open exchange rather than from isolation. Such a novel market context and innovation paradigm challenges traditional views of intellectual property, which emphasise on the exclusion of third parties. The solution to the puzzle seems to be found in re-conceptualising IP as a unit of exchange rather than an instrument of exclusion. Conceptualising IP under an Open Innovation Paradigm is particularly important in the context of Horizon 2020 projects, which seek to promote pan-European exchange and where we will need to find ways to accommodate IP in a way that it builds bridges rather than create avoidable barriers.

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