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NVE Corporation was founded in 1989 in Eden Prairie, Minnesota. Originally called Nonvolatile Electronics, the company changed its name into NVE Corporation after going public on the Nasdaq stock market in 2000; their ticker symbol is NVEC. The term "nonvolatile" describes memory that retains information after an energy supply was removed. Since their founding, NVEC has been granted over $50 million in government research contracts, and especially for their study from the nonvolatile memory named MRAM or magnetoresistive random access memorycard. These contracts assisted NVEC build an intellectual property portfolio and also accumulate more than 50 patents regarding spintronic and MRAM technology. Lately the company has decreased their dependence on research contracts and has increased tremendously through product sales, averaging a growth of 25 percent top-line growth the past three years. The company develops and sells products which use "spintronics", a nanotechnology that depends on electron spin instead of electron charge to collect, store and ship information. NVE Corp. produces high performance sensors and couplers that are utilized to acquire and transmit information. In addition, they license their MRAM technology to various companies including Avago Technologies, Honeywell, Cypress Semiconductor Company, also until 2006, Motorola. As of fiscal year 2008, merchandise sales accounted for 85 percent of earnings and research and development contracts accounted for 15 percent. They now have 50 workers and create sales in over 75 nations. The electronics business is based heavily on devices that acquire, store and transmit information. NVE Corp's spintronics technology focuses on magnetic sensors, couplers, and memory that perform these tasks w.. .