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Today all kinds of innovations and research work is done by partnerships of competent entities each having some specialized skills. Like the development of the global economy, global innovation partnerships have grown considerably and form the basis of most of the sophisticated innovations today. To further streamline and simplify such cooperation, several innovation networks have been formed, both at local and global levels. This paper discusses the different types of innovations and how cooperation can benefit innovation in terms of pooling of resources and sharing of risks.
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