This document discusses the benefits of open source and open standards models compared to traditional pharmaceutical models. It notes that open source and open standards approaches enable very broad global collaboration, voluntary participation and sharing of intellectual property. This results in thousands of new efforts launched each year, ubiquitous adoption, low costs and proliferation of platforms for innovation. The key to their success is that participants trust the system and believe in the rewards. Some of the rewards include building ecosystems with network effects, level playing fields that ensure equal opportunities, and intellectual property rules that benefit all participants. The lessons are that open models work best for certain domains, and their design must provide a valuable proposition to all key stakeholders to default to success.