One of these lies in how the world manages the creation and ownership of inventions and concepts. A protectionist approach to intellectual property is designed to protect and prolong the lifecycle of existing technologies, and allow Inventhelp Innovation News to capture the profits from their creations. In a paper published with colleagues from universities in Germany and India, we examined how this also makes it tougher for new and more sustainable technologies to be developed and adopted. That explains why there are now other approaches being utilized to move key sectors to more sustainable systems and end this status quo.
Electric car manufacturer Tesla, continues to be doing just that. Tesla CEO Elon Musk “shocked” the world in 2014 when he announced that his company was joining the open source movement and handing out its patents free of charge. You should understand the rationale here. Why would a business which had worked so hard to develop and protect its technology from its global car manufacturer competitors suddenly give its technology away at no cost?
Tesla initially created a patent portfolio to guard its technology. However, Tesla’s concern that it would be overwhelmed once established car makers ramped up their creation of electric cars never got to pass. Instead, it saw the electrical car market stagnate at lower than 1% of total vehicle sales. So Tesla changed its strategy from trying to prevent others from building electric cars to seeking to encourage them into the market.
Area of the reasoning here is that if more electric cars are made, then more battery recharging stations is going to be built too. This would make electric cars be a little more visible, along with a more conventional choice. Tesla believes that the open intellectual property strategy can strengthen as opposed to diminish its position because they build how big the electrical car market, and as a result, build its very own share of the total automotive market.
This type of careful management of intellectual property at company level, supported by policy-level awareness, can be quite a powerful way to keep the same kinds of transitions to more sustainable technologies in other industries too.
Energy supply faces a multitude of difficulties: the depletion of natural resources; air pollution and greenhouse gas emissions; nuclear risks; and security of supply. The water supply sector is fixed by water scarcity, pollutants, extreme environmental events including flooding and expenses related to supplying water to communities in poor countries and remote communities. The agri-food sector, meanwhile, is under pressure to sustainably produce more food and to address malnutrition in poor countries.
For these industries to navigate a path around these complications, new knowledge as well as the Patent Your Idea that follow is going to be essential. And then in knowledge economies, intellectual property can either be an enabler or an inhibitor.
In the event the ownership of intellectual property is fragmented inside an industry, it may decelerate technology innovation and uptake, including in the electronics industry where multiple players own complementary patents. However, firms can instead open their innovation processes and depart from jealously guarded, internal cultures, where intellectual property is rtaotl to safeguard and prolong lifecycles. This transformation may see knowledge sharing which leads to accelerated Inventhelp Inventor Service as well as a more rapid uptake of sustainable alternatives throughout a sector: precisely what Tesla was longing for in electric vehicles.
This approach to intellectual property, so-called “open IP”, is well advanced and mature within the software industry and healthcare. It offers given access to life-saving medicines to huge numbers of people, particularly in developing countries through patent pools, including the Medicine Patent Pool. This kind of project depends on multinational pharmaceutical companies sharing their intellectual property, but small companies could also play a strategic roles in creating these new, more sustainable systems, and it’s not all about open IP.