Benefitting from markets for ideas — An investigation across different typologies

Abstract

Acquiring and selling knowledge through markets for ideas (MFIs) is a growing trend for organisations embracing the open innovation paradigm. However, the literature has showed that more in-depth studies about how MFIs can be increasingly beneficial for both seekers and owners are needed. Thus, the present study aims at filling this gap by investigating the main characteristics of successful markets through the application of a multiple case studies methodology. Adopting two differentiation dimensions, as closed versus open and internal versus external, four distinct typologies of MFIs were identified and analysed. Accordingly, seven propositions regarding different characteristics of knowledge owners, knowledge seekers, and ideas were posed. The propositions are also referred to the different typologies of MFIs, thus highlighting similarities and differences across the markets. Hence, this work offers a deepening of the understanding of MFIs, by providing implications both to increase the theoretical comprehension of the topic and promote the definition of suggestions and guidelines for seekers and owners.