A new report by the Industrial Research Institute in Washington, D.C. forecasts that global research and development (R&D) spending will increase by 3.5% in 2016 and reach nearly $2 trillion in value. About one quarter of the spend ($514 billion) will occur in the United States, with the remainder primarily in Asia and Europe.

The benefits of collaborative R&D are numerous. Many U.S. companies increasingly look to jointly develop new products in collaboration with key partners. Who are your key partners for purposes of R&D?

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