This title contains edited papers given by a group of senior executives, chief technology officers, economists, and business analysts at the Chemical Heritage Foundation on 29 April, 2003. Together, these papers make the case that successful mergers require an expanded role for research divisions and should be driven by compatible innovation cultures. Looking to the future, only a combination of greater in-house R&D and increased use of joint ventures will improve the chemical industry's competitive standing as it copes with emerging new markets and competing science-based businesses.