One of these lies in the way the world manages the creation and ownership of inventions and ideas. A protectionist approach to intellectual property is designed to protect and prolong the lifecycle of existing technologies, and permit Inventhelp Successful Inventions to capture the earnings from their creations. In a paper published with colleagues from universities in Germany and India, we examined how this also makes it harder for new and much more sustainable technologies to be developed and adopted. That explains why there are now other approaches being used to move key sectors to more sustainable systems and end this status quo.
Electric car manufacturer Tesla, has been doing exactly that. Tesla CEO Elon Musk “shocked” the planet in 2014 when he announced that his company was joining the open source movement and handing out its patents at no cost. It is essential to comprehend the rationale here. Why would a company which had worked so hard to produce and protect its technology from its global car manufacturer competitors suddenly give its technology away for free?
Tesla initially developed a patent portfolio to protect its technology. However, Tesla’s concern that it will be overwhelmed once established car makers ramped up their manufacture of electric cars never got to pass. Instead, it saw the electric car market stagnate at less 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 in to the market.
Portion of the reasoning here is when more electric cars are made, then more battery recharging stations will likely be built too. This might make electric cars become more visible, as well as a more conventional choice. Tesla believes that an open intellectual property strategy can strengthen instead of diminish its position by building the size of the electric car market, and as a result, build their own share in the total automotive market.
This type of careful management of intellectual property at company level, supported by policy-level awareness, could be a powerful way to support the same forms of transitions to more sustainable technologies in other industries too.
Energy supply faces a range of difficulties: the depletion of natural resources; air pollution and greenhouse gas emissions; nuclear risks; and security of supply. This type of water supply sector is fixed by water scarcity, pollutants, extreme environmental events like 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 as well as address malnutrition in poor countries.
For such industries to navigate a path around these complications, new knowledge as well as the Inventhelp Products that follow will be essential. As well as in knowledge economies, intellectual property either can be an enabler or an inhibitor.
If the ownership of intellectual property is fragmented inside an industry, it can slow down technology innovation and uptake, like within 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 guard and prolong lifecycles. This change may see knowledge sharing leading to accelerated How To Patent A Product and a more rapid uptake of sustainable alternatives throughout a sector: precisely what Tesla was dreaming about in electric vehicles.
This method to intellectual property, so-called “open IP”, is well advanced and mature inside the software industry and healthcare. It offers given usage of life-saving medicines to huge numbers of people, particularly in developing countries through patent pools, such as the Medicine Patent Pool. This type of project relies 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 every about open IP.