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One of these brilliant lies in just 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 allow Inventhelp Innovation 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 more difficult 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 become doing just that. Tesla CEO Elon Musk “shocked” the entire 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 important to comprehend the rationale here. Why would an organization that 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 safeguard its technology. However, Tesla’s concern that it might be overwhelmed once established car makers ramped up their manufacture of electric cars never came to pass. Instead, it saw the electric car market stagnate at less than 1% of total vehicle sales. So Tesla changed its strategy from seeking to prevent others from building electric cars to seeking to encourage them into the market.

Portion 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 become a little more visible, as well as a more conventional choice. Tesla believes that the open intellectual property strategy can strengthen instead of diminish its position because they build the size of the electrical car market, and as a result, build its own share from the total automotive market.

This sort of careful control over intellectual property at company level, backed up by policy-level awareness, could be a powerful method to support the same types of transitions to more sustainable technologies in other industries too.

Energy supply faces a multitude 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 also to address malnutrition in poor countries.

For these particular industries to navigate a path around these issues, new knowledge and also the How To Get A Patent On An Idea 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 within an industry, it could decrease technology innovation and uptake, such as within the electronics industry where multiple players own complementary patents. However, firms can instead open up their innovation processes and move away from jealously guarded, internal cultures, where intellectual property is rtaotl to safeguard and prolong lifecycles. This change may see knowledge sharing leading to accelerated Inventhelp Company News along with a more 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 within the software industry and healthcare. It offers given access to life-saving medicines to millions of people, specifically in developing countries through patent pools, like the Medicine Patent Pool. This sort 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.

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