One of these lies in how the world manages the creation and ownership of inventions and ideas. A protectionist approach to intellectual property was created to protect and prolong the lifecycle of existing technologies, and allow innovators 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 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 become doing exactly that. Tesla CEO Elon Musk “shocked” the entire world in 2014 as he announced that his company was joining the open source movement and giving out its patents free of charge. It is essential to understand the rationale here. Why would a business that had worked so hard to build up and protect its technology from its global car manufacturer competitors suddenly give its technology away at no cost?
Tesla initially developed Inventhelp Company News its technology. However, Tesla’s concern that it will be overwhelmed once established car makers ramped up their production of electric cars never arrived at 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.
Area of the reasoning here is that if more electric cars are made, then more battery recharging stations will likely be built too. This could make electric cars be a little more visible, along with a more conventional choice. Tesla believes an open intellectual property strategy can strengthen as opposed to diminish its position by building the size of the electric car market, and consequently, build its very own share in the total automotive market.
This kind of careful control over intellectual property at company level, supported by policy-level awareness, could be a powerful approach to keep the same types 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 Inventions Ideas is restricted by water scarcity, pollutants, extreme environmental events including flooding and expenses associated with 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 particular industries to navigate a path around these issues, new knowledge as well as the innovations that follow will be essential. And in knowledge economies, intellectual property can either be an enabler or even an inhibitor.
In the event the ownership of intellectual property is fragmented within an industry, it may 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 can be used to protect and prolong lifecycles. This change may see knowledge sharing which leads to accelerated innovation cycles along with a wksgqs rapid uptake of sustainable alternatives within 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 within the software industry and healthcare. It offers given use of life-saving medicines to millions of people, particularly in Inventhelp Invention Stories through patent pools, including the Medicine Patent Pool. This sort of project relies upon multinational pharmaceutical companies sharing their intellectual property, but small companies can also play a strategic roles in creating these new, more sustainable systems, and it’s not every about open IP.