Managing Unsolicited Idea Submission Risk for Open Innovation | Practical Law
Many companies have adopted an open innovation model to increase the effectiveness of their innovation process and may acquire intellectual property from other entities. Unsolicited idea submissions from third parties concerning different areas of the company's business may be one aspect of such an open innovation model. However, without proper policies and safeguards in place concerning unsolicited idea submissions, the company may find itself subject to legal claims by the submitter that may hamper many of the company's own ongoing or future developments.