4 ways to repurpose failed innovation

Sometimes inventions just don't pan out. But they may turn out to be useful if you apply them to other challenges.

And as recession-racked companies search for ways to cut costs, some are rediscovering innovations in previously unsuccessful projects.

Here are four tips on making the most of first-round disappointments:

1. Prepare for comebacks -- Notes should read like how-to manuals so any product or process can be easily replicated.
2. Regularly review shelved ideas -- A specific person or team must reevaluate disappointing inventions periodically.
3. Try them again elsewhere -- Look for ways that flawed projects might solve problems in other arenas.
4. Look into the future -- Project how technological advances could transform yesterday's ideas into breakthroughs.

Read more ideas at "IN: Inside Innovation."