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 made to protect and prolong the lifecycle of existing technologies, and permit Inventhelp Products 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 more difficult 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, has been doing just that. Tesla CEO Elon Musk “shocked” the entire world in 2014 when he announced that his company was joining the open source movement and handing out its patents at no cost. It is important to understand the rationale here. Why would an organization which had worked so desperately to develop and protect its technology from the global car manufacturer competitors suddenly give its technology away for free?
Tesla initially created a patent portfolio to protect its technology. However, Tesla’s concern that it would be overwhelmed once established car makers ramped up their production of electric cars never got to pass. Instead, it saw the electric car market stagnate at lower than 1% of total vehicle sales. So Tesla changed its strategy from seeking to prevent others from building electric cars to attempting to encourage them into 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 would make electric cars become a little more visible, along with a more conventional choice. Tesla believes that an open intellectual property strategy can strengthen instead of diminish its position by building the dimensions of the electric car market, and as a result, build their own share from the total automotive market.
This kind of careful management of intellectual property at company level, supported by policy-level awareness, can be a powerful method to secure 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 these industries to navigate a path around these issues, new knowledge and also the Market An Invention Idea that follow will likely be essential. And in knowledge economies, intellectual property may either be an enabler or even an inhibitor.
If the ownership of intellectual property is fragmented inside an industry, it can decelerate technology innovation and uptake, such as inside the electronics industry where multiple players own complementary patents. However, firms can instead open up their innovation processes and depart from jealously guarded, internal cultures, where intellectual property is rtaotl to guard and prolong lifecycles. This transformation may see knowledge sharing leading to accelerated Inventhelp Store Products and a more rapid uptake of sustainable alternatives within a sector: just what Tesla was hoping for in electric vehicles.
This method to intellectual property, so-called “open IP”, is well advanced and mature within the software industry and healthcare. It has given access to life-saving medicines to huge numbers of people, specifically in developing countries through patent pools, like the Medicine Patent Pool. This kind of project relies upon multinational pharmaceutical companies sharing their intellectual property, but small companies may also play a strategic roles in creating these new, more sustainable systems, and it’s not every about open IP.