Permanent magnets are used widely in business operations. They can be used to divide magnetic from non-magnetic materials in scrap yards. Some screwdrivers contain a magnetic tip on the end to keep one from dropping screws or that may be too small or difficult for one to grasp. These screwdrivers are also helpful for picking up other objects such as paper clips, nails, or staples that one may drop. There are several types of permanent magnets such as rare earth, single and multiple structured magnets, and composite magnets.