Product Ideas – More FAQ’s..

One of these lies in 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 enable Inventhelp Invention Service to capture the earnings 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 a lot 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 that. Tesla CEO Elon Musk “shocked” the entire world in 2014 when he announced that his company was joining the open source movement and handing out its patents free of charge. You should be aware of the rationale here. Why would an organization that had worked so desperately to produce and protect its technology looking at the global car manufacturer competitors suddenly give its technology away free of charge?

Tesla initially created 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 arrived at pass. Instead, it saw the electric car market stagnate at less than 1% of total vehicle sales. So Tesla changed its strategy from attempting to prevent others from building electric cars to seeking to encourage them to the market.

Area of the reasoning here is that if more electric cars are made, then more battery recharging stations will likely be built too. This might make electric cars become more visible, along with a more conventional choice. Tesla believes that an open intellectual property strategy can strengthen rather than diminish its position because they build the dimensions of the electrical car market, and as a result, build its very own share in the total automotive market.

This kind of careful control over intellectual property at company level, backed up by policy-level awareness, can be quite a powerful method 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. Water supply sector is fixed by water scarcity, pollutants, extreme environmental events like 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 as well as address malnutrition in poor countries.

For these particular industries to navigate a path around these complications, new knowledge and also the Inventhelp Invention Marketing that follow is going to 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 in an industry, it can decelerate 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 guard and prolong lifecycles. This change may see knowledge sharing that leads to accelerated Inventhelp as well as 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 in the software industry and healthcare. It has given access to life-saving medicines to thousands of people, specifically 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 could also play a strategic roles in creating these new, more sustainable systems, and it’s not all about open IP.