How Was "Intel" Named?
From Wikipedia:
Bob Noyce and Gordon Moore initially incorporated their company as N M Electronics. Someone suggested Moore Noyce Electronics but it sounded too close to "more noise" — not a good choice for an electronics company. Later, Integrated Electronics was proposed but it had already been taken, so they used the initial syllables (INTegrated ELectronics). To avoid potential conflicts with other companies with similar names, Intel purchased the name rights for $15,000 from a company called Intelco.
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