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Purpose and benefits

‘Genius is one percent inspiration and ninety-nine percent perspiration,’ declared Thomas Alva Edison (1847–1931), the US inventor and entrepreneur. It was a maxim Edison clearly lived by. Unlike many inventors, Edison was a great businessman. By the end of his extraordinary career Edison had accumulated 1,093 US and 1,300 foreign patents. The inventor of the phonograph and the incandescent light bulb also found time to start up or control 13 major companies. Directly or indirectly, his endeavours led to the creation of well-known corporations like General Electric and RCA. Consolidated Edison is still listed on the New York Stock Exchange.