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Simple English definitions for legal terms
R AND D
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A quick definition of R AND D:
Term: R and D
Definition: R and D stands for Research and Development. It is a process where scientists and engineers work together to create new products or improve existing ones. They conduct experiments, analyze data, and test prototypes to come up with innovative solutions to problems. R and D is important because it helps companies stay competitive and meet the changing needs of customers.
A more thorough explanation:
R AND D
R and D stands for Research and Development. It is the process of studying and experimenting to create new products or improve existing ones.
- A technology company invests in R and D to develop a new smartphone with better features.
- A pharmaceutical company conducts R and D to discover new drugs to treat diseases.
These examples show how R and D is used to create new products or improve existing ones. The technology company is researching and experimenting to create a better smartphone, while the pharmaceutical company is researching and experimenting to discover new drugs. Both companies are investing time and money into R and D to stay competitive and meet the needs of their customers.