Table of Contents

Copyright

Acknowledgments

About the Authors

Chapter 1. Making Sense of Innovation Fads and Fashions

Innovation Excitement, Then Disillusionment

Reconsidering Innovations in Innovation

Bringing Silicon Valley Inside

Spinnovation

Virtual Reality: Patenting, IP, and "Asset-Lite"

Shared Creation

If You Can't Build It, Buy It

Mixed Results: What Exactly Is It?

The Allure of Innovations in Innovation

Background and Overview

Chapter 2. Corporate Venturing: Best of Both Worlds or Venturing Too Far?

Breaking the Old Molds

The Disappointing Record of Corporate Ventures

The Consummate Corporate Venture Capitalist

Core Problems with Corporate Venturing

Can You Be Too Free?

Diverging Approaches Toward Cars of the Future

An Established Operating Company Is Not a VC Portfolio

More Mature CVC Approaches

The Need for Core Venturing

Chapter 3. The Virtual Asset-Lite Model: Intellectual Property Licensing

The Old Economy: Real Companies, Real Products

Intellectual Property Rules

IBM = IPM (Intellectual Property Management)

The "Knowing" and "Doing" Connection

The Secret of Life (Patent Pending) Itself

If You're So Smart, Why Aren't You Rich?

Limitations of the IP-Centric Model

Size Matters: Scaling Intellectual Property

IP as a Beginning, Not the End

Turning Licensing Inside-Out

The Ins and Outs of In-Licensing

The Ambiguity of Intangibles

In-Licensing: Hollowing Out the Core?

Bottom Line: How Real Is the IP Revolution?

The Future of Innovation as IP Licensing

Chapter 4. Innovation by Alliance: Reconsidering Innovation Collaboration

The Perils of Partnering

Collaborating to Compete

Consortium Dysfunctions

The Attraction of Open Innovation Collaboration

The Elusive Symbiosis of Innovation Alliances

Joint Venturing Lessons Learned

Toward More Focused Innovation Alliances

Pursuing Direct, Active, Engaged Partnerships

Avoiding Joint Problems

Chapter 5. R&D by M&A: Innovation by Acquisition

Why the Acquisition Boom?

Cisco the Serial Acquirer

Changing R&D Paradigms

Need for Speed, Technology, and Talent

The Deal-Making Denouement

Hangover from an R&D M&A Binge

Talented Competition: Palm Versus Handspring

Buying Innovation Still Can Be a Good Deal

A Durable Part of a Core Innovation Strategy

Limits of Innovation by Acquisition

Chapter 6. Spinnovation: Liberating Value or Spinning Out of Control?

Liberating Innovation?

Spinning Out of Control

Spin.com: How Not to Spin

The Umbilical-Cord Spinout

Navigating a Spinout

Employing Spin Control

A Tale of Online Travel Agents

The Right Spin

Chapter 7. Conclusion: Toward a New Model for Innovation

Core Complexity

Transforming the Core: Internalizing Radical Innovation

Fueling Core Innovation from Inside and Outside

Importance of Portfolio and Process

Endnotes

Index

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