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One of these lies in how 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 enable Inventhelp Reviews to capture the profits from their creations. In a paper published with colleagues from universities in Germany and India, we examined how this also causes it to be harder for new and more sustainable technologies to be developed and adopted. That explains why there are now other approaches being utilized to move key sectors to more sustainable systems and end this status quo.
Electric car manufacturer Tesla, has been doing exactly 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 free of charge. It is essential to be aware of the rationale here. Why would an organization that had worked so hard to build up and protect its technology from its global car manufacturer competitors suddenly give its technology away free of charge?
Tesla initially developed a patent portfolio to safeguard 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 electrical car market stagnate at lower than 1% of total vehicle sales. So Tesla changed its strategy from seeking to prevent others from building electric cars to trying to encourage them into the market.
Part of the reasoning here is when more electric cars are built, then more battery recharging stations will likely be built too. This would make electric cars become a little more visible, along with a more conventional choice. Tesla believes that the open intellectual property strategy can strengthen rather than diminish its position because they build the size of the electric car market, and consequently, build its very own share of the total automotive market.
This sort of careful handling of 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 a range 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 including 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 problems, new knowledge and also the Inventhelp Review that follow will likely be essential. And in knowledge economies, intellectual property can either be an enabler or perhaps an inhibitor.
If the ownership of intellectual property is fragmented within an industry, it can decrease technology innovation and uptake, like within the electronics industry where multiple players own complementary patents. However, firms can instead start their innovation processes and move away from jealously guarded, internal cultures, where intellectual property is rtaotl to safeguard and prolong lifecycles. This modification may see knowledge sharing that leads to accelerated How To Invent A Product and a more rapid uptake of sustainable alternatives throughout 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 within the software industry and healthcare. It provides given usage of life-saving medicines to huge numbers of people, particularly in developing countries through patent pools, including the Medicine Patent Pool. This type of project relies upon multinational pharmaceutical companies sharing their intellectual property, but small companies may also play a strategic roles in creating these new, more sustainable systems, and it’s its not all about open IP.