Memristor:

  - "The Fourth fundamental electronic element"

The Name itself effects predating the capacitor,resistor and inductor.The memristor definition was  generalized by leon chua to cover all forms of 2-terminal non volatile memory devices based on resistance switching effects. 

When current flows in one direction the resistance increases,when the current flows in opposite direction the resistance decreases

when the current is stopped,the memristor retains the last resistance it had,and when the flow of charge starts again the resistance of the circuit will be what it was when it was last time.

The memristor is currently under development by various teams including Hewlett-packard, SK hynix, and HRL laboratories.