Pfizer and IBM. Google was included in this table for the first time in 2013. Global top 50 companies by R&D volume and intensity, 2014 * R&D intensity is defined as R&D expenditure divided by net sales. ** Although incorporated in the Netherlands, Airbus's principal manufacturing facilities are located in France, Germany, Spain and the UK. Source: UNESCO Science Report: towards 2030 (2015), Table 9.3, based on Hernández et al. (2014) EU R&D Scoreboard: the 2014 EU Industrial R&D Investment Scoreboard. European Commission: Brussels, Table 2.2. Exports of high-tech goods and patents Until 2010, the United States was a net exporter of pharmaceuticals but, since 2011, it has become a net importer of these goods. The United States is a post-industrial country. Imports of high-tech products far exceed exports. However, the United States' technologically skilled workforce produces a large volume of patents and can still profit from the license or sale of these patents. Within the United States' scientific industries active in research, 9.1% of products and services are concerned with the licensing of intellectual property rights. When it comes to trade in intellectual property, the United States remains unrivalled. Income from royalties and licensing amounted to $129.2billion in 2013, the highest in the world. Japan comes a distant second, with receipts of $31.6billion in 2013. The United States' payments for use of intellectual property amounted to $39.0billion in 2013, exceeded only by Ireland ($46.4billion). Notable companies and markets America's largest companies are ranked every year by revenue in the Fortune 500. Between 2000 and 2022's edition of the list, the top spot on the Fortune 500 was occupied by either the auto manufacturer General Motors (GM), the oil and gas giant ExxonMobil, or the retailer Walmart. The US is also home of many of the world's largest companies by market capitalization; , the largest American companies by market cap are Apple, Microsoft, Google (through holding company Alphabet), Amazon, Berkshire Hathaway, Tesla, Nvidia, Visa, ExxonMobil, and Meta Platforms. Moreover, many of these companies are the most valuable brands, with many of the largest companies by revenue and market cap on the annual ranking of most valuable brands by Forbes being joined by Coca-Cola, The Walt Disney Company, and McDonald's. Some industries within America are defined by a few major companies, often deriving terms such as "Big Three" or "Big Four". Examples of this phenomenon include the Big Three credit reporting