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HP on U.S. Innovation and Global Competitiveness
Statement by David, HP Labs
For Immediate Release: July 21, 2005
"HP applauds Chairman Sherwood Boehlert and his colleagues on the House Science Committee for convening this important hearing to address the growing need to support technology innovation to maintain America’s global competitiveness.
“Passing a free trade agreement with Central America is essential to accessing foreign markets and lowering barriers to competition in that burgeoning marketplace. Also, Committee Member Lamar Smith’s recent legislation focused on reviewing and reforming the patent system is crucial to protecting technological innovations and advancements.
“As a leader in technology innovation and development, HP seeks to address global needs and provide opportunities to capitalize on the shifting dynamics of modern technology. In order to respond to these global demands, HP invested nearly $4 billion on research and development (R&D) in fiscal year 2004 and ended the year with over 25,000 patents in force. Long-term growth in technology innovation requires a sustained investment of private and public resources to forward research efforts. HP additionally supports increased R&D federal funding to further developing technology solutions for consumers in order to remain competitive in today’s global economy.
“HP looks forward to more hearings and working with the Committee and other Members of Congress on technology’s role in furthering U.S. competitiveness in the global marketplace.”
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Jan. 31, 2005, HP revenue totaled $81.8 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
© 2005 Hewlett-Packard Development Company, L.P.
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