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Webster's New World Finance and Investment Dictionary » Wilson, Joseph C.
Wilson, Joseph C.
Wilson, Joseph C. definition - finance
The
power behind the development of the copier and Xerox Corporation. Wilson was
looking for a product to ensure the success of Haloid Company of Rochester, New
York, which made sensitized paper used in photography and copying. An employee
saw an article written by Chester Carlson that described the photoelectric
copying process. Wilson invested $10,000 and negotiated for limited commercial
rights to develop the new copying process. Haloid later raised $3.5 million to
make the first-generation copying machines better. The Model 914 was created in
1959, and later Haloid became known as Xerox Corporation.
Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
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