ThetaSquared: Business and Technology Advisors
The Power of Technological Innovation - Evolving Perspectives
There's a fundamental change occurring in how organizations innovate, create value and strategically approach technological opportunities. For much of the 20th century, innovation happened inside the business, often in ways that were disconnected from true technological potential. Companies worked internally to turn the latest scientific and technological breakthroughs into products and services the market wanted. They rarely looked outside for new ideas or inventions—and, arguably, they didn't need to.
Innovation strategy depended on fiercely protecting new ideas through patents, trademarks, and copyrights – often as a means of creating a defensive litigation bulwark, rather than an opportunity to build and evolve asset value.This classic model worked fine so long as innovators worked alone on discrete and entirely novel inventions.
Today, high potential organizations are rethinking how they create, acquire and manage intellectual property (IP). The means of creation are proliferating and open, interoperable standards and collaborative networks are beginning to replace proprietary systems and technologies.
Some organizations are resisting these dimensional changes, but smart enterprises recognize that innovation increasingly begins at all levels of the enterprise as well as across the landscape. Science and technology now evolve at great speed and delve into ever more complex, often converging domains. Even the largest organizations can no longer research all the fundamental disciplines that could ultimately contribute to the success of their products. Nor can they control an end-to-end production process or seek to retain the most talented people inside their boundaries. Matching the appropriate resources – wherever they exist – against visionary technological potential is a key to realizing the power of innovation in your organization.
How's Your Game?
"Innovation is a contact sport... And the global winners tend to be teams that reflect a diversity of ideas, backgrounds, and approaches. Regional institutions, then, should collaborate with each other and encourage interaction across scientific and business disciplines.”
- Randall T. Kempner, Vice President, Regional Innovation, Council on Competitiveness
Business and Law: An Interdisciplinary Approach
ThetaSquared is part of an interdisciplinary law and business consortium that serves legal, business and strategic needs of emerging industries and those who help support that process. For information about our affiliated legal practice, click here...