Technology Research
Background
During the governance of the United World Council, empires did not need worry about going into war because they were well protected where all those who did not abide by the law would be cast out to the furthest parts of the universe. Ships built from beginning of time for races have been stored in hangars of respective races. The leaders vowed never to use them again because of the peace treaties among the race leaders. These are the leaders who headed the United World Council. However, certain amount of ships were selected and used by the United World Council to fight the outlaws of the universe. The ships kept in the hangars faded to only memories that haunted them about the past wars and all the blood that had been shed.
After all the leaders assassinated, the United World Council's fleets were disbanded. There were no more major fleets. The armies of the United World Council returned to their respective races. With no one to protect them anymore, empires throughout the universe have to be independent now. These empires will need to protect themselves from attacks. The ships from the hangars have been brought out to use. However, the ships have been left in the hangar for too long and they are not functional anymore.
Blueprints for building ships and used by the United World Council are known to all the armies. To build them, you'll need to research on them by gathering bits and pieces of information of the blueprint from the ex-armies of the United World Council in your empire. All empires know these ships and they are called the "Neutral Ships".
Where as ships from respective races are used only by that race, some ships are now race specific. That is why different races will have different ships with very many different capabilities. To gain the capability to build them again, empire leaders will have to spend time researching the old ships to draw out the blueprints of those ships again. Only with the blueprints redrawn can an empire build those ships again.
Remember, the more ships you have, the more advantages you'll have against other players because you can choose among a variety of different capability ships to build. It's advised that you research all your ships before you come out of Newbie Protection where other players can attack you.
Projects Research
Other than researching on the technology available to each race, you will be given the option to research on projects.
Projects that can give you even more advantages in the game like spying capability, defense, planet exploration and empire/system upgrades.
After completing the research for certain projects, you'll need to go to "Projects" under "Science" to activate it. Remember, you must fulfill the requirements before you can use it.

*Pic 1
Click on the "Researched Technology" link and you will see the technology that you have completed research on.
Tips & Suggestions
Remember, the more ships you have, the more advantages you'll have against other players because you can choose among a variety of different capability ships to build. It's advised that you research all your ships before you come out of Newbie Protection where other players can attack you.
It is always best to do you researches when you are in protection. Another tip for you is when you are doing your research, and in DP, it is always best to disband all your ships to save up money because your ships will use money for upkeeps.
Related topics
Technology Tree List for all races