One of these brilliant lies in just how 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 allow Inventhelp Wiki 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 been doing that. Tesla CEO Elon Musk “shocked” the planet in 2014 as he announced that his company was joining the open source movement and handing out its patents at no cost. You should understand the rationale here. Why would an organization which had worked so hard to build up and protect its technology looking at the global car manufacturer competitors suddenly give its technology away for free?
Tesla initially created a patent portfolio to guard its technology. However, Tesla’s concern that it might be overwhelmed once established car makers ramped up their manufacture 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 to the market.
Portion of the reasoning here is when more electric cars are designed, then more battery recharging stations will likely be built too. This would make electric cars become a little more visible, and a more conventional choice. Tesla believes that an open intellectual property strategy can strengthen rather than diminish its position because they build the size of the electric car market, and for that reason, build its own share of the total automotive market.
This type of careful control over intellectual property at company level, backed up by policy-level awareness, can be a powerful way to keep the same types of transitions to more sustainable technologies in other industries too.
Energy supply faces an array of difficulties: the depletion of natural resources; air pollution and greenhouse gas emissions; nuclear risks; and security of supply. Water supply sector 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 and also to address malnutrition in poor countries.
For these industries to navigate a path around these issues, new knowledge and the Inventhelp Innovation that follow will likely be essential. As well as in knowledge economies, intellectual property can either be an enabler or even an inhibitor.
When the ownership of intellectual property is fragmented within an industry, it could decrease technology innovation and uptake, including within the electronics industry where multiple players own complementary patents. However, firms can instead start their innovation processes and depart from jealously guarded, internal cultures, where intellectual property is rtaotl to protect and prolong lifecycles. This change may see knowledge sharing that leads to accelerated New Inventions along with a more rapid uptake of sustainable alternatives within a sector: precisely what Tesla was dreaming about in electric vehicles.
This strategy 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 thousands of people, especially in developing countries through patent pools, including 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 its not all about open IP.