Moore's law is a key observation and projection in the semiconductor industry that states that number of transistors on a dense integrated circuit at the same price doubles every 18 to 24 months. The law has had significant impact on the advancement of integrated circuits and the semiconductor industry as whole, largely due to its self-fulfilling prophecy nature. The law is named after Gordon Moore, the co-founder of Intel and Fairchild Semiconductor, whose original 1965 paper became the bases for this law.