An open standard is a standard that is publicly available and has various rights to use associated with it, and may also have various properties of how it was designed (e.g. open process). There is no single definition and interpretations vary with usage.
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Open standards are important to help create interoperable and affordable solutions for everybody. They also promote competition by setting up a technical playing field that is level to all market players. This means lower costs for enterprises and, ultimately, the consumer.
EU Commissioner Erkki Liikanen
Open standards and platforms create a foundation for success. They enable interoperability of technologies and encourage innovativeness and healthy competition, which in turn increases consumer choice and opens entirely new markets.
Jorma Ollila, Chairman of Nokia's Board of Directors