Compare closed innovation with open innovation

Closed Innovation
1. The smart people in the field work for us.
2. To profit from R&D, we must discover it, develop it, and ship it ourselves.
3. If we discover it ourselves, we will get it to the market first.
4. The company that gets an innovation to the market first will win.
5. If we create the most and the best ideas in the industry, we will win.
6. We should control our IP, so that our competitors don't profit from our ideas.

Open Innovation
1. Not all the smart people in the field work for us. We need to work with smart people inside and outside the company.
2. External R&D can create significant value: internal R&D is needed to claim some portion of that value.
3. We don't have to originate the research to profit from it.
4. Building a better business model is better than getting to the market first.
5. If we make the best use of internal and external ideas, we will win.
6. We should profit from others' use of our IP, and we should buy others' IP whenever it advances our business model.