What is the Open vs closed innovation issue of innovation?

‘Closed’ innovation – traditional approach relying on own internal resources (e.g. laboratories and marketing departments). Innovation is secretive; anxious to protect intellectual property and avoid competitors free-riding on their ideas. ‘Open’ innovation – deliberate import and export of knowledge by an organisation in order to accelerate and enhance its innovation. Exchanging ideas openly is seen as likely to produce better products/services more quickly.