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
John Nesmith and farsighted men of affairs. John Nesmith became interested in the manufacture of blankets, flannels, printing cloths, sheetings and other textile fabrics and that became eventually his principal vocation. He became agent or part owner in mills in Lowell, Dracut, Chelmsford, Hooksct and other places, and managed those enterprises with almost unvarying and uninterrupted success. He was also a large stockholder in the Merrimack Woolen Mills Company. Appreciating more than any other man the natural advantages of the water powers which have made Lowell what she is, he bethought himself of securing the supply of water in Winnepesaukee and Squam