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The benefits of sharing IP around planet-saving technology might be two-fold, explain Cerys Wyn Davies and Gill Dennis of Pinsent Masons.
Innovation is one of the key solutions to the global challenge of climate change. To maximise the benefits of innovation, do innovators need to reconsider the role of IP rights in green innovation, moving away from the usual monopoly commercialisation of new technology, towards sharing freely for the greater good?
The need for innovation
In November 2021, the eyes of the world were on the UK for COP26. This was the most eagerly anticipated Conference of the Parties since COP21, which had produced the Paris Agreement. Opinion remains divided on whether the key goals of COP26 were achieved, and an analysis of the successes and shortcomings of the conference is beyond the scope of this article. However, there is now (if there was not before) global consensus that urgent action is needed to address the challenges of climate change and sustainability. Innovation will be at the heart of this.
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Pinsent Masons, green tech, climate change, innovation, IP rights, monopoly, AI, battery, invention, COVID-19, software, copyright owner, open-source
