Reader Mail - How Safe Is Open Innovation?

In response to my latest blog post, a reader asks:

What are the risks do you think of submitting your idea and having it stolen or copied? Since you cannot copyright ideas, is there a way to protect oneself?

Thanks,

Sonya B.

This is a great question, and the most common concern about open innovation. The fact of the matter is that there are very few truly original, radically innovative ideas. Most successful businesses are based on "pretty good" ideas, executed well and marketed effectively to a receptive market. A business will not survive long on the merits of the idea alone.

Since most business ideas aren't so unique as to be patentable, and since product development can now happen so quickly, even if you get the idea to market first, if it's a good idea, someone else can imitate it and get to market pretty quickly.

Furthermore, why would someone steal your idea? There's no shortage of "pretty good" ideas. And in these open innovation communities, most of the participants are already working on developing their own ideas. The odds that your idea is so much better than theirs that they would drop theirs, which they have already invested time and money in, in order to steal and pursue yours are slim to none.

A good idea is just a head start. Good execution and marketing are what make or break the business. And you're going to execute and market more effectively with the input of open innovation. And it's generally free -- even better!

Bottom line: sure, there's some slight risk, but there's always a risk as soon as you announce your idea to the world, and the benefits of open innovation outweigh the risks except in a few very special cases, i.e., a patentable idea.

Related on About.com:

• Intellectual Property 101: Patents and Trademarks
• How to Keep a Trade Secret

Elsewhere on the Web

• Open Innovation Blog
• Center for Open Innovation
• OpenInnovation.eu