SRI International (SRI) is a tax‐exempt, not‐for‐profit, applied‐research organization incorporated in the state of California. Founded by Stanford Uni‐versity in cooperation with a group of West Coast business leaders in 1946, SRI separated from Stanford in 1970 and now has a self‐perpetuating board of directors. Operating income is derived from contracts with clients: SRI has no endowment, and royalities do not contribute substantially to income.