NVE Corporation was founded in 1989 in Eden Prairie, Minnesota. Originally called Nonvolatile Electronics, the company changed its name to NVE Corporation after its listing on the Nasdaq stock exchange in 2000; their stock symbol is NVEC. The word "nonvolatile" refers to memory that retains information after a power source is removed. Since its founding, NVEC has obtained more than $50 million in government research contracts, notably for its research into non-volatile memory called MRAM or magnetoresistive random access memory. These contracts have helped NVEC develop an intellectual property portfolio and accumulate more than 50 patents relating to spintronics and MRAM technology. Recently, the company has reduced its reliance on research contracts and has seen considerable growth through product sales, averaging 25% growth in revenue over the past three years. The company develops and sells products that use "spintronics," a nanotechnology that relies on electron spin rather than electron charge to collect, store and send information. NVE Corp. manufactures high-performance sensors and couplers used to acquire and transmit data. Additionally, they license their MRAM technology to various companies, including Avago Technologies, Honeywell, Cypress Semiconductor Company, and, until 2006, Motorola. Since fiscal 2008, product sales represented 85% of revenue and research and development contracts 15%. The company currently has 50 employees and generates sales in more than 75 countries. The electronics industry relies heavily on devices that acquire, store and transmit data. NVE Corp's spintronic technology focuses on magnetic sensors, couplers and memory that perform these activities middle of paper ...... y without booting, allowing a user to simply press a button and the computer run exactly as it was when it was turned off. Mobile devices will benefit from MRAM because it requires less power, allowing for much longer uses on a single charge. Additionally, MRAM's durability and low power requirements make it ideal for defense and aerospace technologies as well as the primary data storage technology for satellites. NVE Corp. has patents on advanced MRAM designs, including vertical transport MRAM, magnetothermal MRAM, and spin pulse. transfer MRAM. These advanced designs aim to address current hurdles in MRAM technology; primarily, reducing manufacturing costs while increasing memory density. Due to MRAM's higher production costs and larger relative size than DRAM and Flash RAM, they are slowly being integrated into electronic devices..