Abstract: The value-capture for innovators in the digital economy requires better understanding the dynamics of innovation platform and ecosystem. The innovation ecosystem governance and the intellectual property strategies implementation are significantly improving the standardization efficiency. Based on a historical literatures investigation into a cross-generational multi-case in the mobile communications industry, it systematically examines the co-evolution of innovation ecosystem governance and the relevant strategic intellectual property management; discusses the interplay between the appropriation mechanism, intellectual property regime, and profiting from innovation. The findings shows: first, with the standard generation changes, the governance of innovation ecosystem has experienced four evolutionary trends, and intellectual property rights have become an important measure for standard innovation ecosystem governance in the mobile communications industry; secondly, the management of intellectual property has experienced a strategic evolution path from anti-patent, pro-patent, pro-licensing, to pro-litigation sequentially; thirdly, in an open innovation environment, the appropriation mechanism, complementary and substitutional accets, and the intellectual property strategy interacts with each other. Company with different complementary or substitutional accet advantages have different stratigic appropriation and path choice.