CAN BUSINESSES SUCCEED WITH OPEN INTELLECTUAL PROPERTY? THE CASE OF TESLA, INC

Allen Gitelman, Rafael Romero and Daniel Hebert

Review of Business and Finance Studies, 2022, vol. 13, issue 1, 93-100

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.

Keywords: Intellectual Property; Intellectual Capital; Open Innovation; Regulation; Business Law; Market Structure (search for similar items in EconPapers)
JEL-codes: K20 L1 L17 L2 L21 L24 M00 O34 (search for similar items in EconPapers)
Date: 2022
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