Novel polyurethane resins are provided by the reaction of an epoxidized or partially epoxidized triglyceride (for example, epoxidized soy oil), an isocyanate, and a functional diol selected to impart amphoteric, cationic, anionic character to the resultant polyurethane. These polyurethane resins may be used to provide vegetable oil-based, waterborne polyurethane dispersions which are readily adapted to suit a variety of uses.
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