--- title: Open IP strategy may hold key to innovation description: Open IP strategy may hold key to innovation --- # [![Innovation Asset Group](https://www.innovation-asset.com/hubfs/Image/Decipher-Logo.png)](https://www.innovation-asset.com/) - [Decipher®](https://www.innovation-asset.com/products-decipher) - [Services](https://www.innovation-asset.com/products/professional-services-0) - [Resources](https://www.innovation-asset.com/resources) - [Blog](https://www.innovation-asset.com/blog) - [About Us](https://www.innovation-asset.com/about) - [Contact Us](https://www.innovation-asset.com/contact) # Innovation Asset Blog # Open IP strategy may hold key to innovation by [Peter Ackerman](https://www.innovation-asset.com/blog/author/peter-ackerman) Although intellectual property trends in several major American industries seem to suggest an increased focus on the acquisition and defense of patents, a more open and collaborative attitude toward IP management may be needed to drive the economy back from recession. According to the Financial Times, the power of purely in-house innovation may be a particularly damaging myth. Although the triumph of the individual inventor may be a more romantic tale, some of the most popular innovations in recent memory have actually come as a result of mutually beneficial IP arrangements. "Left to its own devices, Apple might never have come up with the iPod," noted FT columnist Louise Lucas. "The now-ubiquitous music player was the brainchild of one Tony Fadell, a former employee of Philips, whose concept failed to raise sufficient funding, prompting him to hawk it around established corporates." Instead of designing patent strategy "with a view to preventing competitors from getting there first," Lucas noted the merits of more progressive IP management models. Recent developments in the pharmaceutical industry may provide a case worth following, according to the Washington Times. With Pfizer losing patent protection for Lipitor - the world's best-selling medication - the industry is set for a period of rapid changes as smaller competitors and former powers make sense of the new landscape. ![Peter Ackerman](https://www.innovation-asset.com/hubfs/blog_images/Peter%5B5926%5D.jpeg) ### [Peter Ackerman](https://www.innovation-asset.com/blog/author/peter-ackerman) Founder & CEO, Innovation Asset Group, Inc. [December 30, 2011](https://www.innovation-asset.com/blog/open-ip-strategy-may-hold-key-to-innovation) ### Subscribe to Email Updates ### Introducing Decipher® ### Categories - [Intellectual Property Management (459)](https://www.innovation-asset.com/blog/topic/intellectual-property-management) - [Commercialization and Licensing (210)](https://www.innovation-asset.com/blog/topic/commercialization-and-licensing) - [Invention Disclosure (201)](https://www.innovation-asset.com/blog/topic/invention-disclosure) - [Innovation Strategy (20)](https://www.innovation-asset.com/blog/topic/innovation-strategy) - [Ideas for Good (6)](https://www.innovation-asset.com/blog/topic/ideas-for-good) - [Innovation Team (3)](https://www.innovation-asset.com/blog/topic/innovation-team) ### News Archives - [January 2013 (26)](https://www.innovation-asset.com/blog/archive/2013/01) - [September 2012 (25)](https://www.innovation-asset.com/blog/archive/2012/09) - [October 2012 (22)](https://www.innovation-asset.com/blog/archive/2012/10) - [November 2012 (22)](https://www.innovation-asset.com/blog/archive/2012/11) - [November 2010 (21)](https://www.innovation-asset.com/blog/archive/2010/11) - [February 2011 (21)](https://www.innovation-asset.com/blog/archive/2011/02) - [July 2012 (21)](https://www.innovation-asset.com/blog/archive/2012/07) - [December 2012 (21)](https://www.innovation-asset.com/blog/archive/2012/12) - [January 2012 (20)](https://www.innovation-asset.com/blog/archive/2012/01) - [March 2012 (20)](https://www.innovation-asset.com/blog/archive/2012/03) ##### Portland, Oregon USA ##### © Innovation Asset Group, Inc. ##### [Privacy Policy](https://www.innovation-asset.com/privacy-policy/) | [Terms & Conditions](https://www.innovation-asset.com/terms-and-conditions/) | [Contact Us](https://www.innovation-asset.com/contact/) - - ![](https://www.conversionruler.com/bin/tracker.php?siteid=7009&nojs=1)