One of those is based on 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 Tech to capture the earnings using 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 used to maneuver 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 world in 2014 when he announced that his company was joining the open source movement and giving away its patents for free. It is important to be aware of the rationale here. Why would a business that had worked so difficult to develop and protect its technology from the 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 might be overwhelmed once established car makers ramped up their creation of electric cars never arrived at pass. Instead, it saw the electrical 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 trying to encourage them into the market.
Part of the reasoning here is that if more electric cars are designed, then more battery recharging stations is going to be built too. This could make electric cars become more visible, and a more conventional choice. Tesla believes that an open intellectual property strategy can strengthen as opposed to diminish its position by building the size of the electrical car market, and for that reason, build its very own share in the total automotive market.
This sort of careful control over intellectual property at company level, supported by policy-level awareness, can be quite a powerful way to support the same kinds 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. This type of water supply sector is fixed by Inventhelp News, pollutants, extreme environmental events like 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 such industries to navigate a path around these complications, new knowledge and the innovations that follow will likely be essential. And in knowledge economies, intellectual property can either be an enabler or an inhibitor.
When the ownership of intellectual property is fragmented within an industry, it can decelerate technology innovation and uptake, such as 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 can be used to protect and prolong lifecycles. This transformation may see knowledge sharing which leads to accelerated innovation cycles as well as a vyltsm rapid uptake of sustainable alternatives within a sector: exactly what Tesla was dreaming about in electric vehicles.
This approach to intellectual property, so-called “open IP”, is well advanced and mature inside the software industry and healthcare. It has given usage of life-saving medicines to huge numbers of people, especially in developing countries through patent pools, like the Medicine Patent Pool. This type of project relies on Inventhelp Invention Ideas sharing their intellectual property, but small companies can also play a strategic roles in creating these new, more sustainable systems, and it’s its not all about open IP.