The Open Innovation Revolution Open innovation has become a modern management tool within corporate innovation management, especially in large multinational corporations. Open innovation has become an important extension to the classical innovation approach which has been traditionally closed innovation within company boundaries. Open innovation is the big trend in innovation management, a hot topic in many management conferences  and a favorite of consultants and facilitators. During the last decade, many large corporations have established open innovation managers and allocated a significant share of R&D budgets to open innovation. Country-wise, the USA, Netherland, Germany and France are considered as the top locations in regard to open innovation initiatives, according to Stefan Lindegaard[1], who operates a blog on open innovation. According to google trends, open innovation is most popular in Europe, especially in UK, Germany, Benelux and Scandinavia, but also in USA, Canada, Brazil, India, South Korea and Australia. The search interest continuously grew from 2004 to 2009 and then remained on a constantly high level. Traditionally, in closed innovation all ideas for innovations of a company are provided by employees of that company. For protecting the know-how and intellectual property of the company this has been considered as preferred way of operation ever since the industrial revolution started. Open innovation has emerged in recent years as complimentary strategy in which outside ideas, technologies, IP are included in the innovation process. Numerous social networking websites and portals  have emerged[2]. These websites include Innocentive[3], Ninesigma[4], Innoget[5], Openinnovation.eu[6], Ideaconnection[7], Innovationmanagement.se[8], Openinnovation.net/,  15inno.com[9], Ideas4all.com[10], Atizo[11], Innovationsupplychain.com[12], Bulbstorm.com/[13], just to mention a few portals. What is truly remarkable about portals such as Innocentive is their (claimed) success rate. According to Harvard Business School study , nearly one third  of the problems posted on Innocentive were solved within the specified time frame. In other words, a network of external experts managed to solve problems that large corporations with thousands of scientists and massive research budgets  had been unable to solve internally. Procter & Gamble[14] , the American consumer products giant, is one of the pioneers of open innovation. “P&G’s strategy includes unrelenting focus on innovation. We want to partner with the best innovators everywhere… Connect + Develop is at the heart of how P&G innovates” says Bob McDonald, Chairman of the Board, President & Chief Executive Officer[15]. In future, 3 bio USD of annual growth of P&G are expected to come from products based on external ideas through its Connect & Develop programs. P&G claims a success rate of > 50% with a hit rate of 90%. However, while past achievements of R&G in open innovation is appreciated, recently doubts have been raised whether P&D would still be an open innovation leader[16]. BASF  , the world’s leading chemical company, has joined InnoCentive’s online scientific network as early as 2003. In specialty chemicals leaders like Eastman Chemicals, Evonik, Dow and Unilever have started to embrace open innovation as well[17]. In Oil & Gas, Shell announced to invest up to hundreds of millions of dollars in technology-oriented companies for