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In this paper, we reflect on ‘new commons’ theory and elaborate on the ontology of memory institutions with the aim to develop a comprehensive conceptual framework for ‘commons-oriented’ GLAMs (Galleries, Libraries, Archives and Museums). In doing so, we propose an alternative for governing and managing cultural heritage against a backdrop of limited public funding and pressures for developing memory institutions into more inclusive, participatory and ‘entrepreneurial’ organisations. Our theoretical analysis is grounded in the review of the extant literature, including both the ‘Ostromian’ and ‘Autonomist’ schools of thought, drawing particularly on the new commons (urban, digital, cultural/heritage commons) to inform our framework. The conceptual schema we present here is adapted to fit with the idiosyncrasies of the sector, describing the functioning of commoning practices in GLAMs. Such a framework is critical for navigating future research and devising workable solutions to address current challenges for memory institutions in Europe.