Assignment no. 2

In 1951, Bette Nesmith Graham  invented the first CORRECTION FLUID  in her kitchen. Working as a typist, she used to make many mistakes and always strived for a way to correct them. Starting on a basis of  tempera paint she mixed with a common kitchen blender. she called the outcome fluid Mistake Out and started to provide her coworkers with small green bottles on which the brand's name was displayed. By 1956, Graham founded the Mistake Out Company and continued working from her kitchen nights and weekends to produce small batches of correction bottles. The inventor offered the product to IBM, which declined the offer. She sold the product from her house for 17 years; the name was changed to Liquid Paper shortly after. By 1968, the product was profitable, and in 1979 the Liquid Paper Corporation was sold to the Gillette Corporation  for $47.5 million with royalties. In 2000, Liquid Paper was acquired by Newell Rubbermaid. In some regions of the world, Liquid Paper is now endorsed by Papermate, a widely known writing instruments brand (also owned by Newell Rubbermaid).

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