In January of 2014 the company Tesla Motors released their private patents to the public. Most businessmen would say this is a poor strategy by allowing competitors to have full access to information. Tesla CEO Elon Musk made a brilliant analogy to give insight as to why Tesla made this decision. He said, “If we’re all in a ship together, and the ship has some holes in it, and we’re sort of bailing water out of it, and we have a great design for a bucket, then even if we’re bailing out way better than everyone else, we should probably still share the bucket design.” By allowing competitors to have access to their patents Tesla is allowing more brains to add innovation to the electric car. Then once more innovation all companies as well as customers will benefit. Since the ideas are public we will soon see many more ecofriendly high performance cars.
Tesla worked so hard to clear the path in the niche of electric vehicles. They didn’t see any sense in clearing the path if the just covered it with landmines aka patents. With everyone having access to Tesla’s technology there will be a rapid growth in the electric car field. Tesla put a lot of trust into other engineers, but by doing this they hope that the overall benefit of the planet will increase. Tesla believes that this strategy was the best strategy for the people as well as themselves. With the gaining popularity of electric cars it will only be a matter of time before gas engine cars become obsolete. With Tesla’s public patents this time may come sooner rather than later.