ABSTRACT
Telecommunications has facilitated the death of distance, enabling service providers and users to conduct business without regard to geographical boundaries. Information and communication technology has become an inseparable component of any business in the economy of the twenty-first century. The telecommunications industry’s innovations have lowered transaction costs to domestic businesses and individuals through continued efforts toward developing and improving standards, technological infrastructure, reliability, and security. R&D in the telecommunications industry ranges from basic and applied research for electronic devices to development for the integration of networks and systems. In contrast with other sectors, almost all of the R&D expenditures reported for the industry-NAICS 517appear to be directly related to the industry (i.e. providing communications services).1
