A process for preparing a surfactant, useful for dispersing tackifier resins in aqueous media, comprises reacting an .alpha.,.beta.-unsaturated carboxylic acid or anhydride, or an ester thereof, with a terpene- or hydrocarbon-based resin to form an adduct, then reacting the adduct with a polyalkylene polyol to yield the surfactant. In a related embodiment, the surfactant is subsequently functionalized. Also disclosed are surfactants prepared using a disclosed process; compositions comprising a disclosed surfactant and a tackifier resin; aqueous dispersions comprising a disclosed surfactant; tackifier resin and water; adhesive compositions comprising a disclosed aqueous dispersion and a polymer latex; and pressure sensitive adhesive overlays prepared using a disclosed adhesive composition.