Tipp-Ex errors" (German: "Tippfehler"). He subsequently founded a company of the same name. Shortly after that a "Tipp-Ex Sales & Distribution" company (Tipp-Ex Vertrieb GmbH & Co. KG) was founded in Frankfurt by Otto Carls. This company still exists under the name of Tipp-Ex GmbH & Co. KG close to Frankfurt. "Tipp-Ex" became a registered trademark with the German patent office in 1987. Earlier, in 1951, Bette Nesmith Graham invented the first correction fluid in her kitchen and began marketing the product in 1956 as "Mistake Out", later called Liquid Paper. Tipp-Ex GmbH only started to produce white correction fluid in
Michael Nesmith worst record in the history of the world". However, their singles and albums continued to sell well, until the disastrous release of the movie "Head". Nesmith's last contractual Monkees commitment was a commercial for Kool-Aid and Nerf balls, in April 1970 (fittingly, the spot ends with Nesmith frowning and saying, "Enerf's enerf!"). With the band's fortunes continuing to fall, Nesmith asked to be released from his contract, and had to pay a default: "I had three years left... at $150,000 a year", which he had to pay back. He continued to feel the financial bite for years afterward until his