Open innovation projects are fast paced aiming at producing a quick proof of concept of an innovative software product. This need for speedy results makes the use of open source components as a basis for the work appealing. Open source brings with it an inherent risk of license conflicts that may become an issue when aiming to develope an innovative demo into an actual product. In this study, the first results of investigating the knowledge the participants of innovation projects have on intellectual property are presented. The effect this may have on the project results is also discussed.