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James F. Lavin's avatar

Thank you for sharing. Really the best tidal power explanation I have come across. A great analysis of the gap between a great idea and engineering reality in the very real world. The oceans are a tough mistress.

Mark Hazell's avatar

Thanks … not only a great introduction to the technical challenges of harvesting tidal energy but also a superb example of what a saga (for want of a better word) developing any new product or process is.

It’s a shame that articles like this aren’t more widely shared since perhaps then we’d be less blasé in the west generally and the UK in particular about deindustrialisation and in particular the loss of IP. Those of us who’ve worked in industry know that intellectual property is not simply about the few headline innovations you can patent but about the countless minor adaptations, fixes, tweaks, substitutions of materials etc. that you inevitably need to go through to make something work. This is usually what takes the time in development but it is ultimately what leads to success.

When foreign companies take-over domestic manufacturers what is generally missed is that they are really after all this ‘embedded’ IP. It is more often than not the reason that in many cases they’re prepared to pay well over the odds (on a conventional valuation or market share price basis). What you tend to see in these takeovers is the gradual transfer of elements of manufacture, design and R&D abroad until eventually nothing is left. There are countless examples I could mention like Amersham International, Pilkington, Parsons, many of the old ICI companies, British Steel divisions …

If our politicians and policymakers are serious about leveraging economic growth from new technologies then they need to take a look at how we can better protect innovative domestic companies and their IP.

Of course ironically in most of the cases I mentioned the British taxpayer will have supported their nascent technology development with generous R&D tax credits, only to see other countries reap the revenues from their success.

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