People keep a close watch on many companies and when Technology sector is stealing most of the glamour from the market – these watcher’s look into multiple aspects of the company including, acquisitions, patent litigation, research & development and what not!
A new report from OpenSecrets reveals the amount spent by tech companies on lobbying in 2012. The report also says that, these companies are not even close to the amount spent by US Chamber of Commerce and their subsidiaries.
Lobbying – is nothing but trying to influence politicians and legislation work in favor of the company – some people may call it a ‘bribe’ (depending on their interpretation)
According to Fortune and Apple’s LD2-disclouse form – the company spent this money in lobbying in areas such as:
- Education (the use of digital textbooks in schools)
- Telecommunications (open Internet and children protection issues)
- Environment (electronic waste, EPEAT standards)
- Trade (free trade and border issues)
- Consumer Issues (privacy protection, the Do Not Track Me Online Act)
- Investments and the SEC
- Transportation sector for using technology in cars and airplanes
- Media for electronic publishing
- Medical sector for the regulation of mobile medical devices
It may not be surprising to see Google outspending everyone else in D.C. lobbying. The search giant is continuously ideating on multiple tech products and services. The company is spending lot of money in infrastructure to offer 1gbps Internet connections, planning the retail stores, battling with FTC, FCC agencies over paying fines and what not!
But, no matter how innovative you are – you got to have more friends in Washington to run a business.
It does look like it, isn’t it?