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Can Businesses Succeed With Open Intellectual Property? The Case Of Tesla, Inc

Author

Listed:
  • Allen Gitelman
  • Rafael Romero
  • Daniel Hebert

Abstract

Along with business efforts in research and development, history presents a tendency to patent and monopolize ideas. Moreover, when a business identifies a unique concept; it then seeks to remain the only business offering this innovative idea to make a fortune out of it. The issue of intellectual property rights has developed over history to the present, more sophisticated laws of patents that spread to all industries. The most dominant sector where patents and intellectual properties reigned was in the technology industry. However, today, it applies to many areas. Tesla Inc., however, has opened its patents to achieve a spread sustainability cause in the world. This is to many people, a difficult step, while it is supported by “The Great Reset†. One plausible question that one may ask is whether Tesla will gain or lose in its patent approach. Although patents are used by companies to maintain monopolies and essentially make a company benefit from its efforts, the authors of this paper content that businesses should refrain from the use of patents as they do not make any substantial contribution to the company's goals, as they are costly to pursue and maintain, and are the enemies of general societal progress.

Suggested Citation

  • Allen Gitelman & Rafael Romero & Daniel Hebert, 2022. "Can Businesses Succeed With Open Intellectual Property? The Case Of Tesla, Inc," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 13(1), pages 93-100.
    • Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:93-100
    as

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    References listed on IDEAS

    as
    1. Papageorgiadis, Nikolaos & Sharma, Abhijit, 2016. "Intellectual property rights and innovation: A panel analysis," Economics Letters, Elsevier, vol. 141(C), pages 70-72.
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    More about this item

    Keywords

    Intellectual Property; Intellectual Capital; Open Innovation; Regulation; Business Law; Market Structure;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L17 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Open Source Products and Markets
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures

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