after microsoft, in 2000 myhrvold co-founded intellectual ventures, a patent portfolio developer and broker in the areas of technology and energy, which has acquired over 30,000 patents. intellectual ventures exploits the market for inventions and patents, buying patents from companies and inventors under the assumption the patents will be more valuable in the future. iv also files patents through the work of a team of on-site inventors. startup companies spun out of iv, including kymeta, echodyne, and terrapower, have developed commercial products from iv's inventions. through its global good unit, which myhrvold founded in collaboration with bill gates, iv has also invented and produced commercial products, such as improved vaccine coolers and milking cans, aimed at low-income markets in africa and asia. however, in most cases, iv's inventions are limited to the descriptions provided in their patents, which are bundled into portfolios for licensing.