Here are some examples of technological monopolies:
1. Polaroid - Edwin Land, the founder of the Polaroid Corporation, invented the first instant camera. Land’s camera used a special type of film that allowed each picture to develop automatically in about a minute. Through a series of patents, Polaroid created a monopoly in the instant photography market.
2. Drug Manufacturer - if a company develops and patents a drug to cure brain cancer, that company has a legal monopoly over that drug.
2. Qualcomm, Tessera, Rambus and ARM most wireless phones, personal computers, video game consoles, HDTVs, and other devices include technology from these IP companies.
3. Software Industry - Internet Explorer was the only browser available to browse the web between 1995-2000.
As explained by Monash Business School, technological monopoly is a monopoly that occurs when a single firm controls manufacturing methods necessary to produce a certain product, or has exclusive rights over the technology used to manufacture it. Technological monopolies differ from those based on vertical or horizontal consolidation in that the exclusivity derives from the production process itself.
According to United States Patent and Trademark Office, patent protection lasts for 20 years from the date on which it was originally applied. During that period of time, no other company may develop the technology. The patent owner may develop or sell the rights to develop the technology to a company that can lawfully operate as a monopolist.
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