One of these brilliant lies in the way the world manages the creation and ownership of inventions and concepts. A protectionist approach to Inventhelp Store Products is designed 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 a lot more sustainable technologies to be developed and adopted. That explains why nowadays there are 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 giving away its patents for free. You should comprehend the rationale here. Why would a company which had worked so hard to develop and protect its technology from the global car manufacturer competitors suddenly give its technology away at no cost?
Tesla initially designed a patent portfolio to protect its technology. However, Tesla’s concern that it will 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 under 1% of total vehicle sales. So Tesla changed its strategy from seeking to prevent others from building electric cars to seeking to encourage them to the market.
Part of the reasoning here is that if more electric cars are made, then more battery recharging stations will be built too. This could make electric cars be a little more visible, and a more conventional choice. Tesla believes that the open Inventhelp Patent Information can strengthen rather than diminish its position because they build the dimensions of the electric car market, and as a result, build their own share of the total automotive market.
This kind of careful handling of intellectual property at company level, supported by policy-level awareness, can be considered 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. The water supply sector is restricted by water scarcity, pollutants, extreme environmental events like flooding and costs 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 complications, new knowledge as well as the innovations that follow will likely be essential. And then in knowledge economies, intellectual property can either be an enabler or even an inhibitor.
When the ownership of intellectual property is fragmented inside an industry, it can slow down technology innovation and uptake, like in 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 utilized to guard and prolong lifecycles. This change may see knowledge sharing that leads to accelerated innovation cycles along with a more rapid uptake of sustainable alternatives within a sector: just what Tesla was dreaming about in electric vehicles.
This approach to New Inventions, so-called “open IP”, is well advanced and mature inside the software industry and healthcare. It provides given access to life-saving medicines to thousands of people, particularly in developing countries through patent pools, including the Medicine Patent Pool. This kind of project relies on multinational pharmaceutical companies sharing their jjnywy property, but small companies can also play a strategic roles in creating these new, more sustainable systems, and it’s not all about open IP.