This book is positioned at the interface of research in economic geography and strategic management, combining topics like intangible assets (IAs), Open Innovation strategies of multinational enterprises (MNEs), and Regional Innovation Systems (RIS). A micro-approach to analyzing the innovation behavior of nine MNEs in two advanced European economies, Germany and the UK, was applied, which has revealed key channels through which IAs are enhanced in the innovation processes of multinationals and has described their spatial roots and impact. Moreover, the study presents a novel matrix of the regional embeddedness of MNEs and systematically classifies the case study firms. Finally, it shows that geographical proximity to RIS is important for Open Innovation and enables MNEs to strengthen their absorptive capacity.