and achieve successful knowledge transfer. 4. network centrality: Network centrality refers to an actor's position in a network. Actors centrally located in a network are in an advantageous position to monitor the flow of information and have the consequent advantage of having large numbers of contacts who are willing and able to provide them with important opportunities and resources. Current challenges Collaborative innovation still needs to be empowered. A more collaborative approach involving stakeholders such as governments, corporations, entrepreneurs and scholars is key to tackling the main challenges facing today. First of all, it is still important to raise awareness of CoIN and its benefits among companies and major economic fields. Policy makers and corporate leaders could support the development of programs, strategies and educational plans to stimulate CoINs in specific sectors, benefiting the whole economy. Second, the overall legal and regulatory framework still needs to evolve to foster cross-firm collaboration. Fiscal and intellectual property regimes should be reviewed to provide the necessary infrastructure to nourish CoINs. A further stimulus is important to encourage the creation of start-ups and the development of a network of partners across companies. Finally, financial aid should be granted to support collaborative projects related to technology, research and innovation. CoINs have an enormous potential to deliver innovation and drive significant gains in competitiveness. However, they need resources in order to fully operate and reach their maximum potential. Future As CoINs become increasingly popular among governments and corporations, the ethical, financial, economic, and cognitive issues which drive incentives will inevitably face challenges. Over time potential innovators may be unwilling to participate in projects merely on the basis of implied financial gain. As globalization begins to impact traditional models of planned social progress, the broader political context in which participants cooperate has become more relevant lately. This suggests an increased need for independent parties to collaborate on the basis of agreed upon principles and objectives, ultimately this could encompass the interests of humanity and the emergence of a global culture. See also General theory of collaboration: Collective intelligence • Polytely • Swarm intelligence Open politics • Symbolic interactionism Commons-based peer production Community of practice References Further reading Peter Gloor (2005) Swarm Creativity: Competitive Advantage Through Collaborative Innovation Networks. Peter Gloor and Scott Cooper (2007) Coolhunting: Chasing Down the Next Big Thing. Silvestre, B. S., Dalcol, P. R. T. (2009) Geographical proximity and innovation: Evidences from the Campos