LG to Pay for Good Ideas from Customers

      July 15, 2014 11:43

      LG Electronics said Monday it will pay consumers for novel ideas and reward them with 4 percent of revenues generated by their suggestions.

      It's not uncommon for businesses to hold contests in search of good ideas, but this is the first time one has offered to share revenue.

      This initiative is part of LG's focus on so-called crowd sourcing, a method used by many companies to obtain diverse ideas or collect information from far beyond their own staff.

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