The activities that are classified as Research & Development differ from company to company, but there are two primary models. In one model, the primary function of a Research & Development group is to develop new products; in the other model, the primary function of a Research & Development group is to discover and create new knowledge about scientific and technological topics for the purpose of uncovering and enabling development of valuable new products, processes, and services.
Under both models, Research & Development differs from the vast majority of a company's activities which are intended to yield nearly immediate profit or immediate improvements in operations and involve little uncertainty as to the return on investment.
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