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What accounts for the apparent decline in the innovation capabilities of so many leading companies, at a time when so many promising ideas abound? My research suggests that the way we innovate new ideas and bring them to market is undergoing a fundamental change. In the words of the historian of science Thomas Kuhn, I believe that we are witnessing a" paradigm shift" in how companies commercialize industrial knowledge.'I call the old paradigm Closed Innovation. It is a view that says successful innovation requires control. Companies must generate their own ideas and then develop them, build them, market them, distribute them, service them, finance them, and support them on their own. This paradigm counsels firms to be strongly self-reliant, because one cannot be sure of the quality, availability, and capability of others' ideas:" If you want something done right, you've got to do it yourself." The logic that …