Laser Photomask Global Market Report 2025

Description

A laser photomask is a vital tool in semiconductor manufacturing for accurately transferring circuit patterns onto silicon wafers. It consists of a fused silica plate with areas that are opaque, transparent, or phase-shifting, and these patterns are projected onto wafers using deep ultraviolet (DUV) or extreme ultraviolet (EUV) light sources.

The main types of laser photomasks are reticles and masters. Reticles are used specifically in the photolithography process to transfer circuit patterns onto semiconductor wafers. They play a crucial role in integrated circuit production by enabling precise alignment and replication of complex designs at various scales. The different trade types include captive and merchant, and these photomasks are utilized in applications such as chips, liquid crystal displays, and printed circuit boards.

The laser photomask market research report is one of a series of new reports from The Business Research Company that provides laser photomask market statistics, including laser photomask industry global market size, regional shares, competitors with a laser photomask market share, detailed laser photomask market segments, market trends, and opportunities, and any further data you may need to thrive in the laser photomask industry. This laser photomask research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The laser photomask market size has grown steadily in recent years. It will grow from $3.69 billion in 2024 to $3.85 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increasing demand for miniaturized electronics, growth in consumer electronics, rising demand for high-performance computing, and growing demand for semiconductors.

The laser photomask market size is expected to see steady growth in the next few years. It will grow to $4.5 billion in 2029 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to the demand for high-resolution displays, the rise of IoT devices, the growing demand for wearable technology, the expansion of cloud computing services, and the rising adoption of augmented reality (AR) and virtual reality (VR). Major trends in the forecast period include driverless car technology, innovation in advanced computing equipment, development of EUV lithography, integration of AI, and technological advancement.

The increasing demand for semiconductors is projected to drive the growth of the laser photomask market. Semiconductors are materials with intermediate electrical conductivity, which are essential for electronic devices due to their controllable conductivity and band structure. The rising demand for semiconductors is attributed to their critical role in powering advanced electronics, enabling faster processing, and fostering innovation across various technology sectors. Laser photomasks are integral to semiconductor manufacturing, as they project complex circuit patterns onto semiconductor wafers, facilitating precise etching and patterning of integrated circuits during photolithography. For example, in July 2024, the Semiconductor Industry Association, a US-based trade organization, reported that semiconductor sales reached $49.1 billion in May 2024, a 19.3% increase from $41.2 billion in May 2023. Thus, the growing demand for semiconductors is fueling the expansion of the laser photomask market.

Leading companies in the laser photomask market are focusing on developing innovative solutions, such as the Park NX-Mask, a next-generation photomask repair equipment known for its advanced, reliable, and efficient performance. The Park NX-Mask is a state-of-the-art repair system that boosts throughput and efficiency in EUV semiconductor manufacturing, offering comprehensive defect management solutions. For example, in October 2022, Park Systems, a South Korea-based manufacturer of Atomic Force Microscopes, launched the Park NX-Mask, positioning it as the most effective, safe, and efficient next-generation photomask repair equipment. Designed to optimize inline production, the Park NX-Mask includes dual pods specifically designed for handling EUV masks. It offers a complete solution, including automatic defect review, defect repair, and repair verification, greatly enhancing throughput while delivering exceptional repair effectiveness. The Park NX-Mask stands as the most advanced AFM-based photomask repair system available for high-end EUV semiconductor manufacturing, as well as for R&D and mask shops. It is highly effective in repairing even the most challenging photomasks, removing defects and foreign particles with nanometer accuracy and angstrom-level precision for edge placement, without disrupting the reflective surface pattern or causing issues like stains or implanted elements.

In July 2024, Acrotec Group, a Switzerland-based supplier of watch components, acquired Lasertec B.V. for an undisclosed amount. This acquisition is intended to enhance Acrotec Group's technological capabilities and expand its precision machining and laser cutting offerings. Lasertec, based in the Netherlands, specializes in laser-based photomask inspection systems for the semiconductor industry.

Major companies operating in the laser photomask market are Canon Inc., Applied Materials Inc., LG Innotek Co. Ltd., Toppan Printing Co. Ltd., KLA-Tencor Corporation, Dai Nippon Printing Co. Ltd., Hoya Corporation, Photronics Inc., Lasertec Corporation, Mycronic AB, SUSS MicroTec Photomask Equipment GmbH, Taiwan Mask Corporation, Nippon Filcon Co. Ltd., SK-Electronics Co. Ltd., Vistec Electron Beam GmbH, Compugraphics, Heidelberg Instruments Mikrotechnik GmbH, HTA Photomask, Infinite Graphics Incorporated, Shin-Etsu MicroSi Inc.

Asia-Pacific was the largest region in the laser photomask market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laser photomask market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the laser photomask market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The laser photomask market consists of sales of transparent photomasks, phase shift masks, liquid crystal masks and membrane masks. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Laser Photomask Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on laser photomask market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for laser photomask ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laser photomask market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Reticles; Masters
2) By Trade Type: Captive; Merchant
3) By Application: Chip; Liquid Crystal Display; Printed Circuit Board
Subsegments:
1) By Reticles: Photomask Reticles For Integrated Circuits (ICS) Or Photomask Reticles For Semiconductor Lithography Or High-Resolution Reticles For Advanced Nodes Or Custom Reticles For Specific Applications
2) By Masters: Optical Masters Or Electron Beam Masters Or X-Ray Masters Or Custom Masters For Specialized Lithography Processes
Companies Mentioned: Canon Inc.; Applied Materials Inc.; LG Innotek Co. Ltd.; Toppan Printing Co. Ltd.; KLA-Tencor Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r30557

1. Executive Summary

2. Laser Photomask Market Characteristics

3. Laser Photomask Market Trends And Strategies

4. Laser Photomask Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market

5. Global Laser Photomask Growth Analysis And Strategic Analysis Framework

5.1. Global Laser Photomask PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Laser Photomask Market Growth Rate Analysis
5.4. Global Laser Photomask Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Laser Photomask Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Laser Photomask Total Addressable Market (TAM)

6. Laser Photomask Market Segmentation

6.1. Global Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Reticles
Masters
6.2. Global Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Captive
Merchant
6.3. Global Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Chip
Liquid Crystal Display
Printed Circuit Board
6.4. Global Laser Photomask Market, Sub-Segmentation Of Reticles, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Photomask Reticles For Integrated Circuits (ICS)
Photomask Reticles For Semiconductor Lithography
High-Resolution Reticles For Advanced Nodes
Custom Reticles For Specific Applications
6.5. Global Laser Photomask Market, Sub-Segmentation Of Masters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Optical Masters
Electron Beam Masters
X-Ray Masters
Custom Masters For Specialized Lithography Processes

7. Laser Photomask Market Regional And Country Analysis

7.1. Global Laser Photomask Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Laser Photomask Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8. Asia-Pacific Laser Photomask Market

8.1. Asia-Pacific Laser Photomask Market Overview
Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.3. Asia-Pacific Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.4. Asia-Pacific Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

9. China Laser Photomask Market

9.1. China Laser Photomask Market Overview
9.2. China Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.3. China Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.4. China Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

10. India Laser Photomask Market

10.1. India Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.2. India Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.3. India Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11. Japan Laser Photomask Market

11.1. Japan Laser Photomask Market Overview
11.2. Japan Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.3. Japan Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.4. Japan Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12. Australia Laser Photomask Market

12.1. Australia Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.2. Australia Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.3. Australia Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13. Indonesia Laser Photomask Market

13.1. Indonesia Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.2. Indonesia Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.3. Indonesia Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14. South Korea Laser Photomask Market

14.1. South Korea Laser Photomask Market Overview
14.2. South Korea Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.3. South Korea Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.4. South Korea Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15. Western Europe Laser Photomask Market

15.1. Western Europe Laser Photomask Market Overview
15.2. Western Europe Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.3. Western Europe Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.4. Western Europe Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16. UK Laser Photomask Market

16.1. UK Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.2. UK Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.3. UK Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17. Germany Laser Photomask Market

17.1. Germany Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.2. Germany Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.3. Germany Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18. France Laser Photomask Market

18.1. France Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.2. France Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.3. France Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19. Italy Laser Photomask Market

19.1. Italy Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.2. Italy Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.3. Italy Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20. Spain Laser Photomask Market

20.1. Spain Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.2. Spain Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.3. Spain Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21. Eastern Europe Laser Photomask Market

21.1. Eastern Europe Laser Photomask Market Overview
21.2. Eastern Europe Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.3. Eastern Europe Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.4. Eastern Europe Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22. Russia Laser Photomask Market

22.1. Russia Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.2. Russia Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.3. Russia Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23. North America Laser Photomask Market

23.1. North America Laser Photomask Market Overview
23.2. North America Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.3. North America Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.4. North America Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24. USA Laser Photomask Market

24.1. USA Laser Photomask Market Overview
24.2. USA Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.3. USA Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.4. USA Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25. Canada Laser Photomask Market

25.1. Canada Laser Photomask Market Overview
25.2. Canada Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.3. Canada Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.4. Canada Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26. South America Laser Photomask Market

26.1. South America Laser Photomask Market Overview
26.2. South America Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.3. South America Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.4. South America Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27. Brazil Laser Photomask Market

27.1. Brazil Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.2. Brazil Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.3. Brazil Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28. Middle East Laser Photomask Market

28.1. Middle East Laser Photomask Market Overview
28.2. Middle East Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.3. Middle East Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.4. Middle East Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29. Africa Laser Photomask Market

29.1. Africa Laser Photomask Market Overview
29.2. Africa Laser Photomask Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.3. Africa Laser Photomask Market, Segmentation By Trade Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.4. Africa Laser Photomask Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

30. Laser Photomask Market Competitive Landscape And Company Profiles

30.1. Laser Photomask Market Competitive Landscape
30.2. Laser Photomask Market Company Profiles
- 30.2.1. Canon Inc. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.2. Applied Materials Inc. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.3. LG Innotek Co. Ltd. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.4. Toppan Printing Co. Ltd. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.5. KLA-Tencor Corporation Overview, Products and Services, Strategy and Financial Analysis

31. Laser Photomask Market Other Major And Innovative Companies

31.1. Dai Nippon Printing Co. Ltd.
31.2. Hoya Corporation
31.3. Photronics Inc.
31.4. Lasertec Corporation
31.5. Mycronic AB
31.6. SUSS MicroTec Photomask Equipment GmbH
31.7. Taiwan Mask Corporation
31.8. Nippon Filcon Co. Ltd.
31.9. SK-Electronics Co. Ltd.
31.10. Vistec Electron Beam GmbH
31.11. Compugraphics
31.12. Heidelberg Instruments Mikrotechnik GmbH
31.13. HTA Photomask
31.14. Infinite Graphics Incorporated
31.15. Shin-Etsu MicroSi Inc.

32. Global Laser Photomask Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Laser Photomask Market

34. Recent Developments In The Laser Photomask Market

35. Laser Photomask Market High Potential Countries, Segments and Strategies

35.1 Laser Photomask Market In 2029 - Countries Offering Most New Opportunities
35.2 Laser Photomask Market In 2029 - Segments Offering Most New Opportunities
35.3 Laser Photomask Market In 2029 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer