Since I was child, my parents have raised me on a simple principle that has pervaded my intellectual explorations and social interactions.It is the simple adage “two heads are better than one.” To this day, I have yet to see it fail. When individuals cooperate and work together, their productivity and ability to create drastically increases.

An open revolution is beginning whereby individuals are able to instantaneously connect, communicate and interact with large networks across the globe. Yet contemporary literature has demonstrated that openness does more than create a medium for accessible communication. Openness adds value to the corporation. It expands and enhances the potential of the individual firm to prosper.

The case for financial transparency, online HR resources and internal corporate communication has been made. Sadly, opening up intellectual property and the sharing of knowledge has been left adrift. Best practices on strategic development, operational processes and internal research have been locked up by companies holding the antiquated belief that their information is more valuable hidden rather than shared. Unfortunately for them,this fundamental ideology is flawed and is currently inhibiting companies and institutions from meeting their maximum potential. The value of sharing privately developed intelligence is manifold.

• First, there is the networking effect. Objectives, methods and exclusive features become more visible, drawing new groups of potential customers, partners, distributors and investors. A larger customer base amplifies revenues access to collaborators diminishes costs.
• Second, companies can more effectively improve their product, process or service. Openness stimulates greater productivity by permitting developers and researchers to work together as a community. Firms are able to source cheaper labor to a larger pool of highly skilled workers that they would not have otherwise had access to. Customer engagement allows end users to directly input what qualities are most important to the product or service.

By opening the knowledge base, the owners demonstrate to others that he or she is still the expert. A lawyer’s repertoire of case precedents or a cardiologist’s specialized method of treatment is not what adds value. Instead, it is the individual or company’s ability to creatively and successfully apply the concepts to each unique situation that faces the client on a regular basis.

I recently brought this idea to my dad, the owner of a small architectural firm. He immediately exclaimed, “I would love to sharemy intellectual property.” Shocked, I asked him why he was so excited. He responded “My client knows me. They know what I can do. Opening up my design plans would detract nothing from my business. Opening up can only help.”

I was glad to hear it. Because in the end, it showed me that ‘twoheads (and more the merrier) are really better than one’./p>

Guest blogger: Phillip Levine, Wharton

Posted by Barry Libert