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The company recently closed an investment round worth $11.8 million, thanks to help from Bill Gates and Lux Capital, among others.
Intellectual Ventures' second spinoff is translating research in so-called metamaterials into cheaper and easier-to-use communications equipment for plans, ships, and eventually even your individual hot spot.
Nathan Myhrvold and other executives at the controversial company say critics simply don't understand what they're doing. CNET went behind the scenes to understand what 40,000 patents and an unapologetic plan to make money from them really means.