Selling research

When your chairman asked me to talk to you tonight it was his thought that I should give some striking examples out of my own experience to show the value of research. In considering the matter, it seemed to me that it might be more appropriate to speak of a phase of the subject which is seldom mentioned, and I think not generally well understood, namely, selling research or perhaps more properly, selling the products of research. As to the value of research it seems to me that this audience needs no arguments or examples to convince it that research is worth while. If such is needed from me, it should be sufficient to tell you that my company has for quite a number of years expended upwards of half a million dollars a year for research with an ever increasing program for the future. The present industrial depression has somewhat restricted our activities, but our plans for expansion will undoubtedly go forward as soon as business conditions warrant.