Pitney Bowes 2015 Annual Report Download - page 23

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7
Research, Development and Intellectual Property
We invest in research and development programs to develop new products and solutions, enhance the effectiveness and functionality of
existing products and solutions and deliver high value technology, innovative software and differentiated services in high value segments
of the market. As a result of our research and development efforts, we have been awarded a number of patents with respect to several of
our existing and planned products. However, our businesses are not materially dependent on any one patent or license or group of related
patents or licenses. Research and development expenditures were $110 million, in each of 2015, 2014 and 2013.
Material Suppliers
We depend on third-party suppliers for a variety of services, components, supplies and a large portion of our product manufacturing. In
certain instances, we rely on single-sourced or limited-sourced suppliers around the world because the relationship is advantageous due
to quality, price, or there are no alternative sources. We have not historically experienced shortages in services, components or products
and believe that our available sources for materials, components, services and supplies are adequate.
Regulatory Matters
We are subject to the regulations of postal authorities worldwide related to product specifications and business practices involving our
postage meters. We are further subject to the regulations of the State of Utah Department of Financial Institutions and the FDIC with
respect to the operations of the Bank and certain company affiliates that provide services to the Bank. We are also subject to the regulations
of transportation, customs and other trade authorities worldwide related to the cross-border shipment of equipment, materials and parcels.
In addition, we are subject to regulations worldwide concerning data privacy and security for our businesses that use, process and store
certain personal, confidential or proprietary data.
Employees and Employee Relations
At December 31, 2015, we have approximately 10,500 employees in North America and 4,300 employees internationally. We believe
that our current relations with employees are good. Management keeps employees informed of decisions and encourages and implements
employee suggestions whenever practicable.
Available Information
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments thereto filed
with, or furnished to, the Securities and Exchange Commission (the SEC), are available, free of charge, through the Investor Relations
section of our website at
www.pb.com/investorrelations or from the SEC's website at www.sec.gov, as soon as reasonably practicable
after these reports are electronically filed with, or furnished to, the SEC. The other information found on our website is not part of this
or any other report we file with or furnish to the SEC.
You may also read and copy any document we file with the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington,
DC 20549 or request copies of these documents by writing to the Office of Public Reference. Call the SEC at (800) 732-0330 for further
information on the operations of the Public Reference Room and copying charges.