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The next step in open innovation

The creation of knowledge, products, and services by online communities of companies and consumers is still in its earliest stages. Who knows where it will lead?

01/06/2008
Jacques Bughin, Michael Chui, Brad Johnson
McKinsey Quarterly
The next step in open innovation The Internet and new social-networking technologies are allowing companies and their customers to interact with unprecedented levels of richness. Some leading organizations are using this opportunity to draw customers into the heart of the product-development process.
Cocreating products and services with customers, however, is uncertain territory fraught with challenges and questions—for instance, who owns the resulting intellectual property? Nonetheless, smart companies are now beginning to encourage their customers to help them develop the products and services consumers really want.

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