I believe if it becomes "industry standard" it means that everyone can use it for free.

Not necessarily.

There are many cases where one company's IP has become a de facto or industry agreed upon standard and then other companies who need or use the IP pay licenses and royalties. The key is to make certain the fees and royalties are "fair and reasonable"

However, when the greed glands swell to excess, problems can arise. Same is true when big companies compete in a targeted space and have lawyers who want to fight at every turn.

Still, it is possible to get eggs from the golden goose for a long time so long as one does not kill it by trying to get the gold all at once.