- The inbound process, which exploits external sources of innovation in order to integrate external know how and innovation into the company.
- The outbound process, which utilizes external innovation opportunities with internal capabilities and resources.
Because leveraging external resources is extremely popular at the moment, the outbound process often is forgotten. But remember how many patents and license are not used in many companies (according to Chesbrough). The example of GlaxoSmithKline shows how to leverage unused intellectual property.