Quotation Chesbrough, Henry, Lettl, Christopher, Ritter, Thomas. 2018. Value creation and value capture in open innovation. Journal of Product Innovation Management (JPIM). 35 (6), 930-938.




Open innovation has attracted a significant amount of attention from scholars and practitioners. Prior research on open innovation has mainly focused on collaborative inventing. However, understanding the processes and outcomes of joint inventing is not sufficient for understanding sustained open‐innovation activities and the competitive advantages of the actors involved in open innovation. Instead, an understanding of value creation and value capture is paramount for advancing our understanding of sustained open‐innovation activities. Open innovation requires collaboration among distributed but interdependent actors who rely on each other's capabilities in value co‐creation. Value co‐creation in open innovation is driven not only by actors’ value creation but also by their ability to capture value. While value creation and value capture are discussed in the open‐innovation literature, the advancement of this stream of research is hindered by conceptual ambiguity, especially in relation to the concept of value capture. This article adopts a value perspective on open innovation, offers consistent conceptualizations of value creation and value capture, and outlines potential avenues for further research at the interface of open innovation, value creation, and value capture.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of Product Innovation Management (JPIM)
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new INF-A, MAR-A+, STRAT-A, WH-A
Language English
Title Value creation and value capture in open innovation
Volume 35
Number 6
Year 2018
Page from 930
Page to 938
Reviewed? Y
DOI https://doi.org/10.1111/jpim.12471
Open Access N


Lettl, Christopher (Details)
Chesbrough, Henry (University of California at Berkeley, United States/USA)
Ritter, Thomas (Copenhagen Business School, Denmark)
Institute for Strategy, Technology and Organization IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5324 Organizational research (Details)
5333 Business management (Details)
5350 Innovation research (Details)
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