Challenge of Institutionalization of 'Open Innovation' for long term significance

It is the era of 'Open Innovation' where the enterprises engage their partners - customers/suppliers/consultants so as to contribute towards building up a new product or service for serving the consumers what they want.

The neighbourhood tailor used to customize our clothes right to the size that would fit in perfectly which is why the services provided by the tailor haven't been substituted yet. Even Levis and other mega brands do stitch at times for the customers who don't want to opt for their readymade offerings. Participation of consumers, partners and suppliers has picked up over the last decade for product development.

A challenge which is being faced is the correct technology to create a network of product-specialists, customers, partners, suppliers so as to collect the rich intellect from each one of them. They collaborate and work with continuous interaction to formulate the design for a product that the consumer is really looking for.

Certain suppliers do know the manufacturing components that the latest technology like Apple's products would need so they would supply them the appropriate chips. This is in mutual consent for product development with Apple.

Wikipedia follows a different form of collaboration where it arranges a platform for users so as to facilliate content contribution and editing as well. Wikipedia is no corporation as such.

Challenges
I
How would one entice users to participate and continuously contribute their intellectual ideas for formulating the right product design as needed by the consumers?

Helping a charitable organization
Advancing the state of the art
Public recognition
Token compensation - gift check for $100 if contribution is accepted

Who would own the product as there would be various participants who would help in its cocreation?

Fractional ownership for each volunteer but it doesn't sound convincing

Maintaining Quality

It is still hard to digest that the quality is best delivered for cocreated products

Conclusion

Many companies have already done it; for e.g Apple. However, there are many companies that have still taken those few steps towards it and have a long way to go.