Bette Nesmith Graham is recognized for inventing Liquid Paper, originally called "Mistake Out," which she developed while working as a typist. The product was created to cover typing errors using a white, water-based paint. While she initially worked alone, she later sought assistance from various individuals, including an office supplier, a school chemistry teacher, and a friend from a paint company, to refine her formula. The chemist's contributions were significant in improving the product's effectiveness, but there is debate over whether he should be credited as a co-inventor. Graham's journey involved managing her business after hours and eventually renaming her product Liquid Paper in 1958, leading to its success and sale to Gillette for $47.5 million. The discussion highlights the complexities of invention credit and the legal implications of contributions to product development, emphasizing that while Graham is credited as the inventor, the role of others in refining the product remains a topic of contention.