Intellectual Property (IP) rights play a crucial role in fostering both innovation and sustainability, as demonstrated by the case studies of ABS Recycling and Sky Green. The importance of IP in these goes beyond simply protecting new innovations. It is also about encouraging the development of sustainable solutions that lead to benefits for inventors, companies, and the public.  

ABS Recycling – Innovation & Intellectual Property

For example, ABS Recycling, a company based in the Eastern European country of Moldova, developed state-of-the-art waste management software that helps Moldova tackle waste more effectively. Working with local IT companies, ABS Recycling developed innovative software that is protected as a trade secret. Though many business owners think of patents when considering how to protect their inventions, trade secrets are another option. 

Patents protect inventions if they qualify for protection after an application and examination process. The knowledge is made publicly available during the patent application process. This means the information, the public for further innovation after the patent expires.  By comparison trade secrets can be used to protect innovations without any application process, but  the business must make efforts to keep the technology secret. Whether one relies on patents or trade secrets, IP protection ensures that companies like ABS Recycling can maintain a competitive edge. Importantly, this protection is vital for the software’s development life cycle, from R&D to market launch, allowing for the recovery of investments and the funding of future innovations.

Supporting the Sustainable Development Goals

This recycling technology supports several Sustainable Development Goals (SDGs). The SDGs are an ambitious set of goals that were adopted by United Nations member states as part of the 2030 Agenda for Sustainable Development.  Innovations in recycling specifically align with SDG 12 because they help to reduce waste on the planet. SDG 12 is Responsible Consumption and Production, which includes efforts to reduce waste through prevention, reduction, reuse, and recycling. 

Sky Greens – Securing Agricultural Innovations

Sky Greens has developed vertical farming technology, which uses less water, energy, and space to produce vegetables. This exciting innovation in sustainable agriculture contributes to several SDGs, but more specifically to SDG 2: Zero Hunger and SDG 13: Climate Action. By patenting their unique system of aluminum troughs and A-frames, Sky Greens protects its technology from unauthorized use and makes it possible for the company to confidently partner with others through licensing agreements, joint ventures, or other business arrangements. The patents also serve as critical assets for attracting investors and partners interested in sustainable solutions.

The Broader Impact of IP Protection

IP protection plays a pivotal role in advancing global sustainability goals by:

• Encouraging Innovation: Knowing that their inventions can be protected through IP law  gives inventors and companies the confidence to invest time and resources into developing new solutions.
• Facilitating Investment: IP rights make innovations more attractive to investors, who see protected assets as more secure investments.
• Promoting Knowledge Sharing: While protecting the rights of inventors, the patenting process involves documenting and publishing information about new inventions, which contributes to the global pool of publicly available knowledge.
• Supporting Business Growth: For many startups and companies, intellectual property is a significant part of their valuation, enabling them to grow, enter new markets, and create jobs.

Intellectual property rights are legal tools and strategic business assets that support innovation, competition, and sustainability. By securing their IP rights, innovators like ABS Recycling and Sky Greens not only protect their own interests but also contribute to the global effort to achieve the Sustainable Development Goals.