One of these brilliant lies in how the world manages the creation and ownership of inventions and concepts. A protectionist approach to intellectual property is designed to protect and prolong the lifecycle of existing technologies, and enable Inventhelp Success Stories to capture the earnings from their creations. In a paper published with colleagues from universities in Germany and India, we examined how this also causes it to be tougher for new and a lot 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 just that. Tesla CEO Elon Musk “shocked” the world in 2014 as he announced that his company was joining the open source movement and giving out its patents for free. It is important to comprehend the rationale here. Why would an organization which had worked so hard to produce and protect its technology looking at the global car manufacturer competitors suddenly give its technology away at no cost?
Tesla initially developed a patent portfolio to guard its technology. However, Tesla’s concern that it might 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 attempting to prevent others from building electric cars to attempting to encourage them in to the market.
Area of the reasoning here is when more electric cars are built, then more battery recharging stations is going to be built too. This might make electric cars be a little more visible, as well as a more conventional choice. Tesla believes an open intellectual property strategy can strengthen rather than diminish its position by building the dimensions of the electrical car market, and for that reason, build its very own share of the total automotive market.
This type of careful handling of intellectual property at company level, supported by policy-level awareness, can be a powerful approach to support the same types 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. Water supply sector is restricted by water scarcity, pollutants, extreme environmental events such as 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 and to address malnutrition in poor countries.
For these particular industries to navigate a path around these issues, new knowledge as well as the Ideas Inventions that follow is going to be essential. As well as in knowledge economies, intellectual property either can be an enabler or an inhibitor.
If the ownership of intellectual property is fragmented inside an industry, it can decrease technology innovation and uptake, including within 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 modification may see knowledge sharing which leads to accelerated Review For Inventhelp along with a more rapid uptake of sustainable alternatives within a sector: precisely what Tesla was longing for in electric vehicles.
This approach to intellectual property, so-called “open IP”, is well advanced and mature inside the software industry and healthcare. It provides given usage of life-saving medicines to millions of people, especially in developing countries through patent pools, such as the Medicine Patent Pool. This kind of project depends on 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.