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Now more than ever, companies must think outside the box and innovate in order to remain competitive and relevant in a constantly changing technology landscape. Traditionally, innovation has been a product of internal R&D departments. In recent years, though, there has been a paradigm shift toward open innovation (OI) — that is, collaborating with external parties in product development. For companies participating in open innovation, these external parties are usually customers, suppliers or universities, but can even be competitors.

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