While curriculums in schools are changing, one subject is still taught in every school across the nation. Most adults remember completing math problem after math problem. And as any parent knows, for kids, the adding, subtracting, multiplying and dividing are not always the most fun. However, next time they ask when they will ever use the subject; tell them that learning the subject could make them millions one day.

Nick D’Aloisio is a 17-year-old entrepreneur who sincerely appreciates the subject. In fact, he owes his millions to an algorithm. The incredibly young entrepreneur recently sold his news-summarizing app to Yahoo for an incredible $30 million — a figure that was not officially confirmed by Yahoo but a reliable estimate.

The Internet mogul was not buying the app for its features, subject matter or fan base; it was buying it for the technology that allowed the app to function, the technology that was simply a collection of math functions. As soon as the purchase was made, the Internet company took the app off out of the sales market.

As technology becomes ever more prevalent in business, algorithms are an everyday part of life. Algorithmic science is found in many more industries than most would think. It is used in the music we listen to, the sports we watch and the medicine that we rely on.

Multi-million dollar purchases such as this one are as risky as any other business venture, but the rewards can be incredibly high. When entering into these types of business deals, an effective contract attorney can minimize some of the risk by executing thorough contracts and protecting a party’s interests throughout negotiations.

Source: npr, “After Yahoo Acquires Summly, Is Buying Math The Net Tech Bubble?” Steve Mullis, March 26, 2013