The Potential of Follow-On Innovation Financing Instruments to Support a Sustainable Transition

Forthcoming in: T.Pihlajarinne,, J. Mähönen, P. N. Upreti (eds.): Intellectual Property Rights in the Post Pandemic World: an Integrated Framework of Sustainability, Innovation and Global Justice. Edward Elgar 2023, forthcoming.

Max Planck Institute for Innovation & Competition Research Paper No. 22-07

22 Pages Posted: 2 Jun 2022

See all articles by Natacha Estèves

Natacha Estèves

MCI - The Entrepreneurial School

Alina Wernick

University of Helsinki - Faculty of Law

Suelen Carls

Bournemouth University; Max Planck Institute for Innovation and Competition

Date Written: March 15, 2022

Abstract

In the transition to sustainability, innovation will play a crucial role. As the latter follows intricate paths and processes, IPRs might impede further innovation and slow down the transition to sustainability by blocking innovative technologies – or making it harder to access them. Yet, when adequately used, IPRs may foster knowledge exchange and shared learning. Open innovation - particularly open licensing – can support follow-on innovation by allowing for the circulation and combination of inputs from different actors and help solving the wicked problem of sustainability.

Aside from the mere practice of sharing one's IPRs to foster further innovations in an open innovation setting, the sustainable financing of follow-on innovation will be essential in the coming decades. Indeed, in a crisis-laden world and considering the - presumably - future economic downturns, the question of the financing of follow-on innovation will be critical. There is certainly a need to identify how and under which conditions intellectual property, follow-on innovation and financing models can work together towards a more sustainable world. As the R&D funding in the post-pandemic world might become scarce, uneven, and unpredictable, this article reviews whether some alternative means of funding innovation –particularly emerging blockchain-based solutions – could succeed at supporting follow-on innovation for the greater goal of sustainability.

Keywords: Sustainability, wicked problems, IPRs, open innovation, open licensing, follow-on innovation, IPRs monetisation, blockchain, NFTs, DAOs

Suggested Citation

Estèves, Natacha and Wernick, Alina and Carls, Suelen, The Potential of Follow-On Innovation Financing Instruments to Support a Sustainable Transition (March 15, 2022). Forthcoming in: T.Pihlajarinne,, J. Mähönen, P. N. Upreti (eds.): Intellectual Property Rights in the Post Pandemic World: an Integrated Framework of Sustainability, Innovation and Global Justice. Edward Elgar 2023, forthcoming., Max Planck Institute for Innovation & Competition Research Paper No. 22-07, Available at SSRN: https://ssrn.com/abstract=4119552 or http://dx.doi.org/10.2139/ssrn.4119552

Natacha Estèves

MCI - The Entrepreneurial School ( email )

Universitätsstraße 15
Innsbruck, 6020
Austria

Alina Wernick

University of Helsinki - Faculty of Law ( email )

Porthania 5th Floor
P.O. Box 4
Helsinki, FIN-0001 4
Finland
+ 49 (0) 176 84661896 (Phone)

Suelen Carls (Contact Author)

Bournemouth University ( email )

Fern Barrow
Poole BH12 5BB, Dorset BH8 8EB
United Kingdom

HOME PAGE: http://https://staffprofiles.bournemouth.ac.uk/display/scarls

Max Planck Institute for Innovation and Competition ( email )

Marstallplatz 1
Munich, 80539
Germany

HOME PAGE: http://https://www.ip.mpg.de/en/persons/carls-suelen.html

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