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3M Achieves Patents Milestone
KEYWORDS general business / innovation
3M recently announced it has reached an innovation milestone with the issuance of 52 patents, moving the company's total number of patents past the 100,000 mark.
"We celebrate this important milestone, and honor all of the scientists whose inventions have contributed to the success of 3M and the products it brings to companies, homes, and people," said Fred Palensky, executive vice president and chief technology officer. "Our unwavering commitment to research and development allows us to deliver technology, products and innovation to our customers worldwide."
Each year, about 3,000 patents are issued to 3M worldwide, more than 500 of which are granted in the U.S. These patents have applications in a range of industries, including health care adhesives and sterilization products, consumer electronics, and reflective traffic signs. 3M's first patent was granted in 1924. The following year, former 3M chairman of the board William McKnight earned 3M's second patent, which was issued for a handle for sandpaper.
"Patents are critical to protecting our innovation and significant investments in R&D," Palensky said. 3M reportedly invests nearly 6% of sales annually in R&D, including funding for multiple technology platforms that will be introduced to the market in the coming years.
For more information, visit www.3m.com.
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