In 1960 the Xerox Corporation was in a position where it could corner the copy machine industry for the next 15 years. Xerox had practically invented the copy machine, and had secured its dominate stake in the copy machine industry with patents. However, this security backfired on Xerox because it didn't allow them to focus on new product development. During this period, their research and development goals diminished, and the quality of their products remained the same if not worsened. The strategy Xerox had remained stagnant. Xerox found itself in the mid 1970's with a loss in profit, marke