Outsource with Open Minds, Business Models

An open business model is based on being more flexible with incorporating external ideas and technologies and making the company's own technologies available to other companies. If companies don't operate with an open business model, they run the risk of not utilizing all of their intellectual property assets. In addition, companies with a more closed model tend to resist external technologies that could complement their own products. Open business models, by contrast, allow companies to increase their revenues and reputation by licensing their technologies to other companies.