Wilson, Joseph C. - Investment & Finance Definition
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.