Should Other CEOs Follow Tesla’s Musk and Open Their Patents?
Elon Musk, CEO of Tesla Motors, has shaken up the auto industry again, this time by announcing that Tesla Motors will let other companies use its patents, in a move inspired by an open-source agenda. And he promised that Tesla wouldn’t pursue lawsuits against any company that wants to use its technology “in good faith.”
The move has raised questions. Why did Musk do it? What impact will it have? And, for other CEOs and business owners, is Musk doing something we should be taking a look at?
“As altruistic as that approach may be, it still creates victims out of companies that aren’t innovating fast enough to keep up in an open environment.”
Such an open-source approach has swept the computer-software industry, of course, as the attitude has prevailed that technology and the industry as a whole move ahead faster if the structure of innovation invites contributions from everyone and isn’t restricted to patented corporate silos. But as altruistic as that approach may be, it still creates victims out of companies that aren’t innovating fast enough to keep up in an open environment, such as Microsoft and IBM.
As BloombergBusinessweek pointed out, Sun Microsystems once opted to open-source all of its products, but that move came under different circumstances. The company was known for its pricey proprietary software and had fallen on hard times because of it, the magazine noted, so it was looking for new ways to create interest in its hardware and save the company.
Would an open-source declaration work for rivals in other verticals? Would CPG companies, for instance, benefit by throwing open the pantry doors to all of the patents covering their hard-won gains with better-for-you ingredients? CEOs and business owners would need a lot of persuasion on that point.
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1:00 - 5:00 pm
We are in a period of rapid change. Customer needs, technologies, competitors and internal capabilities require companies to review and update their strategies for the new realities. In this workshop, strategy experts Steve Rutan and Denise Harrison will show you a systematic approach to strategic planning to help you refine or redefine your business strategy and approach including:
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Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
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General’s Retreat at Hermitage Golf Course
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General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
