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Open Innovation or Collective Invention? Conceptualizing the Debate

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Unpacking Open Innovation

Abstract

As Hall, Griliches and Hausman (1986, p. 265) state, “The annual research and development expenditures of a firm are considered to be investments which add to the firm’s stock of knowledge.” Firms undertake R&D activities, in large part, to create innovations that will ultimately provide new products and therefore profits.

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© 2013 Elias G. Carayannis, Manlio Del Giudice, and Maria Rosaria Della Peruta

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Del Giudice, M. (2013). Open Innovation or Collective Invention? Conceptualizing the Debate. In: Unpacking Open Innovation. Palgrave Studies in Democracy, Innovation and Entrepreneurship for Growth. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137354372_4

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