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  "documentTitle": "Lasertec Corporation (6920)",
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  "notes": "The slide uses a Wikipedia excerpt to support the argument that ASML's market position is a result of historical policy decisions rather than just organic innovation.",
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      "text": "ASML eventually licensed the technology in the late 1990's, making it – not Lasertec – a “monopolist” with the only working EUV source and “the sole benefactor of the critical technology.”",
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      "text": "The history is instructive: R&D efforts began in the early 1990's and took several decades of US government-funded research by Lawrence Livermore National Laboratories, Lawrence Berkeley, and Sandia. Japanese companies were denied the ability to license the technology as it was US-taxpayer funded. ASML eventually licensed the technology in the late 1990's, making it – not Lasertec – a “monopolist” with the only working EUV source and “the sole benefactor of the critical technology.”",
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      "text": "In 1991, scientists at Bell Labs published a paper demonstrating the possibility of using a wavelength of 13.8 nm for the so-called Soft X-Ray Projection Lithography. To address the challenge of EUV lithography, researchers at Lawrence Livermore National Laboratory, Lawrence Berkeley National Laboratory, and Sandia National Laboratories were funded in the 1990s to perform basic research into the technical obstacles. The results of this successful effort were disseminated via a public/private partnership Cooperative R&D Agreement (CRADA) with the invention and rights wholly owned by the US government, but licensed and distributed under approval by DOE and Congress. The CRADA consisted of a consortium of private companies and the Labs, manifested as an entity called the Extreme Ultraviolet Limited Liability Company (EUV LLC). Intel, Canon, and Nikon (leaders in the field at the time), as well as the Dutch company ASML and Silicon Valley Group (SVG) all sought licensing. Congress denied the Japanese companies the necessary permission as they were perceived as strong technical competitors at the time, and should not benefit from taxpayer-funded research at the expense of American companies. In 2001 SVG was acquired by ASML, leaving ASML as the sole benefactor of the critical technology...this made the once small company ASML the world leader in the production of scanners and monopolist in this cutting edge technology.",
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      "kind": "quote",
      "text": "“In 1991, scientists at Bell Labs published a paper demonstrating the possibility of using a wavelength of 13.8 nm for the so-called Soft X-Ray Projection Lithography... In 2001 SVG was acquired by ASML, leaving ASML as the sole benefactor of the critical technology...this made the once small company ASML the world leader in the production of scanners and monopolist in this cutting edge technology.” — Wikipedia on the history of EUV lithography",
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      "text": "Source: https://en.wikipedia.org/wiki/Extreme_ultraviolet_lithography#:~:text=An%20EUV%20tool%20(EUV%20photolithography,within%20a%20hydrogen%20gas%20ambient.",
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      "kind": "title",
      "text": "EUV source technology is so challenging that only ASML has managed to produce one that actually works.",
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      "text": "Wikipedia on the history of EUV lithography",
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