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Open innovation (OI) is key to sustainable product development and is increasingly gaining significance as the preferred model of innovation across industries. When compared to closed innovation, the protection of intellectual property (IP) that is created in open innovation is complex. For organisations engaging in OI, a sound IP management policy focusing on IP risk reduction plays a significant role in ensuring their sustained growth. Assessing the risks that are involved in IP management will enable firms to devise appropriate IP management strategies, which would ensure sufficient protection of an IP that is created in an OI model. Studies indicate that the risks which are associated with IP and risk management processes also vary with company segments that range from start-ups to micro, small, medium, and large organisations. This paper proposes an open innovation IP risk assessment model to compute the open innovation intellectual property risk score (OIIPRS) by employing an analytic hierarchy process. The OIIPRS indicates the IP risk levels of an organisation when it engages in open innovation with other organisations. The factors contributing to IP risk are identified and further classified as configurable IP risk factors, and the impact of these factors for the various company segments is also factored in when computing the OIIPRS. Further, an OI IP risk maturity model (OIIPRMM) is proposed. This model depicts the IP risk maturity of organisations based on the computed OIIPRS on an IP risk continuum, which categorises firms into five levels of IP risk maturity. The software firms can make use of the OIIPRMM to assess the level of IP risk and adopt proactive IP protection mechanisms while collaborating with other organisations. Full article

As a driving force behind urban sustainable development, enterprise innovation has become an increasingly important issue in the digital economy. In this context, a financing model called intellectual property pledge financing (IPPF) has been widely implemented, potentially promoting innovation output in developed countries. However, for countries with relatively low levels of intellectual property (IP) protection, the impact of IPPF on enterprise innovation is divergent, as it may lead to patent signal failure. China’s implementation of IPPF since 2008 provides an ideal quasi-natural experiment for researching IPPF in such countries. Using panel data of China’s listed companies from 2007 to 2017, we employ the staggered Difference-in-Differences (DID) method to examine the impact of IPPF on enterprise innovation. The results demonstrate a significantly positive impact overall, with a more pronounced effect in urban areas characterized by high intellectual property protection and digitalization. Various robust tests, including event study, Bacon decomposition, and propensity score matching (PSM), were conducted. Additionally, our findings suggest that IPPF facilitates enterprise innovation by expanding external credit resources and optimizing internal management from the perspective of open innovation (OI). It signals banks and investors to provide favorable credit support externally, helps alleviate managerial myopia, and increases manager risk preference internally. These results offer empirical evidence and suggestions for promoting IPPF as a means to stimulate enterprise innovation and achieve urban economic sustainable development. Full article