The ArmaLite AR-15 is a selective fire assault rifle which was adopted by United States armed forces as the M16 rifle. Because of financial problems, ArmaLite sold the AR-15/M16 design to Colt.
The Colt AR-15 is the semi-automatic version of the M16 rifle, which was introduced by Colt for civilian sales in 1963. The name “AR-15” is a Colt registered trademark, which refers only to the semi-automatic rifle.
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