Research and development

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In 2015, Volkswagen was the world's leading spender in R&D[1]

Research and development (R&D) refers to a wide range of activities by businesses, governments and academic institutions designed to gather knowledge and test new ideas.[2] This often leads to the development of new products or new ways of doing things.[3] R&D generally has three main activities.[4] These are: basic research, applied research and development.[4] Basic research is aimed at getting new knowledge with no immediate use or purpose in mind.[4] Applied research is just the opposite. It is research for a definite purpose or product.[4] Development has more to do with adding features to a product. Often, development is a process of eliminating all but the best idea to arrive at the best solution.[5] Basic and applied research costs are often written off as expenses while the costs of development are added to the cost of the product.[6] R&D often results in owning intellectual property such as patents.[6] In Europe, R&D is called research and technical/technological development (RTD).[3]

References[change | change source]

  1. ↑ "The top innovators and spenders". Strategy&. PwC. http://www.strategyand.pwc.com/global/home/what-we-think/innovation1000/top-innovators-spenders. Retrieved 11 October 2016.
  2. ↑ Rodney Michael. "What is Research and Development? - Definition, Methods & Examples". Study.com. http://study.com/academy/lesson/what-is-research-and-development-definition-methods-examples.html. Retrieved 11 October 2016.
  3. ↑ 3.0 3.1 "Research And Development - R&D". Investopedia. http://www.investopedia.com/terms/r/randd.asp. Retrieved 11 October 2016.
  4. ↑ 4.0 4.1 4.2 4.3 Bronwyn H. Hall (December 2006). "Research and Development". Economics Laboratory, University of California; Berkeley. https://eml.berkeley.edu/~bhhall/papers/BHH06_IESS_R&D.pdf. Retrieved 11 October 2016.
  5. ↑ Bradford Goldense (16 September 2014). "What’s The Difference Between Research and Development?". Machine Design. Penton. http://machinedesign.com/goldense-research-product-development/what-s-difference-between-research-and-development. Retrieved 11 October 2016.
  6. ↑ 6.0 6.1 "research and development (R&D)". Business Dictionary. WebFinance Inc. http://www.businessdictionary.com/definition/research-and-development-R-D.html. Retrieved 11 October 2016.

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