The Triumph of Industry 1865-1914. Innovation Drives the Nation. Patents A grant by the government to the inventor giving the right to develop and sell inventions without competition Electricity Created by Thomas Jefferson brought lighting to homes and businesses, as well as other things.
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The Triumph of Industry
Oil companies, both multinational (such as ExxonMobil, Royal Dutch Shell, ConocoPhillips or BP) and national (e.g. Petronas) often adopt a vertically integrated structure. This means that they are active along the entire supply chain from locating crude oil deposits, drilling and extracting crude, transporting it around the world, refining it into petroleum products such as petrol/gasoline, to distributing the fuel to company-owned retail stations, for sale to consumers.
Expansion via acquisition of a competitor or by adding outlets to a chain. For example, a book publisher might acquire another publishing house to increase its stable of editors and authors or to otherwise enhance its competitiveness.