ERJ staff report (DS)
Davos, Switzerland -- Mark Parker, Nike, Inc. president and CEO, said his company will release certain of its patents in a bid to open up it intellectual proporty to fast-track the development of innovative solutions to sustainability challenges.
Speaking at a EO breakfast at the World Economic Forum in Davos, Switzerland, parker said Nike and nine other organizations announced the launch of the GreenXchange (GX), a Web-based marketplace where companies can collaborate and share intellectual property (IP).
Smith said, "One example of IP that could have cross-industry benefits is Nike's Environmentally Preferred Rubber. Used in Nike footwear the rubber contains 96 percent fewer toxins than the original formulation. By licensing the technology on GX it could be used in other company's footwear, or it could hypothetically be used by Mountain Equipment Co-op for bicycle inner tubes. In this way Mountain Equipment Co-op could bring a greener product to market more quickly and cheaply than it could on its own."
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Press release from Nike