Purpose – This paper aims to examine the strategic dimension of outbound open innovation (OOI) with a focus on identifying strategic objectives for exploiting knowledge externally. It reviews the literature, presents a list of strategic objectives, and introduces a novel categorization....

Open innovation holds great potential for improving the efficiency of companies' innovation processes, but also presents substantial risks. A key issue in innovation management is finding the right balance of openness, i.e., determining how open companies should be in their innovation...