The longer you hang around a subject, the more interesting the rumors and misperceptions. Innovation seems to spawn a number of fallacies, probably because it is very important, haphazardly performed and misunderstood by management. The combination of importance, carelessness and ignorance probably spawns a lot of fallacies. In fact, it sounds a lot like teen sex in a way.
One interesting new fallacy that seems to be making the rounds is that "open innovation" is easier and cheaper than innovation within the four walls of your organization. Open innovation can drive more ideas, and in many cases simply bypasses the bureaucracy and sloth of an organization to attract a number of people from outside the organization. In this manner open innovation can be faster, but it is not cheaper or less expensive, nor does it require fewer resources. Open innovation just shifts the costs from an innovation team, or R&D, to legal, IP and business development. If your legal, IP and business development teams have more bandwidth or lower cost than your innovation or R&D teams, perhaps this is a logical tradeoff. But don't expect open innovation to dramatically reduce the cost of innovation.