Unfortunately, inbound open innovation does not always lead to expected improvements in innovation performance. A key factor for success is quickly and reliably determining which technology or solution a company should source externally. The “Strategies for Technology Acquisition” figure shows the possible strategies for acquisition in relation to the sources of technology. The figure shows the relationship between R&D, licensing and IP. The strategies for technology acquisition are defined, and their implications for a company that are related to the cost of acquiring the technology, the risks and rewards, and IP issues are shown on the left-hand side of the figure. It is important to consider all these technology acquisition strategies as a project is started.