In reply to niggle:
> (In reply to dissonance)
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> [...]
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> Yes, I know - but that doesn't seem to stop a multitude of science and technology companies from being some of the largest, most sucessful companies in the world.
who do you think does the basic research that they build on? Take DNA, its only really now becoming something which you can start making decent money out of.
Now you could push for an approach where we can patent even the basic knowledge but that would cripple any advances.
> The pay for R&D out of their profits, knowing full well that they may have to wait decades to recoup that spend.
I doubt you will find many cases of companies waiting decades, particularly plcs since unfortunately the emphasis now is all short term, although you would get some privately owned companies and enlightened VCs who would take the longer view.
Besides R & D is subsidised in various ways by governments eg tax write offs for it plus in some cases the government paying directly (eg the US aerospace industry was carried by the massive military spending).