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Engineering, Research & Development OVERVIEW


     In industrialized nations, R&D investment has risen from an average of about 1.5% of Gross Domestic Product (GDP) in 1980 to about 2.0% today.
     Vast numbers of university students around the globe are enrolled in engineering and scientific disciplines—many of them dreaming about potential rewards if their future research efforts become commercialized.
     Global research collaboration (between companies and between companies and universities) is booming, as is patenting.
     In fact, it is difficult for patent authorities in the U.S.
    and elsewhere to keep up with demand.
     Globalization, immigration and cross-national collaboration have such a dramatic effect on research and design that nearly one-half of all patents granted in America list at least one non-U.S.
    citizen as a co-inventor.
     Major U.S.
    universities, like the University of Texas and the University of Wisconsin, as well as universities in such nations as China, Korea and Singapore, are eager to patent their inventions and reap the benefits of commercialized research.
     Top research universities earn millions of dollars each in yearly royalties on their patents.
    The “2016 Global R&D Funding Forecast,” published by the Industrial Research Institute and R&D Magazine, estimates global spending on research and development at $1.947 trillion for 2016, on a PPP or “purchasing power parity” basis.
     “PPP” means that the amounts are adjusted to account for the difference in the cost of living from nation to nation, relative to the United States.
     For example,

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