Chesbrough 2003, The Era of Open Innovation (Spring, 2003)

1. Article is taken from the MIT Sloan Review
2. firms need to be semi-permeable to allow ideas to flow in
3. ideas which cannot be capitalized on, should be sold to other firms
4. Lucent should have benefited from Bell Labs facilities, but Cisco (founded 1984) was able to better compete through strategic acquisition instead of raw research
5. P&G changed their closed company culture to allow cross pollination of ideas outside of the organization
6. Innovation Investors and Benefactors (special terms used within the paper) facilitate innovation
7. VC has facilitated the change from closed to open.