History
Longitudinal and vertical-interval timecodes were developed in 1967 by EECO, an electronics company that developed video recorders, and later video production systems. EECO assigned its intellectual property to permit public use.
Read more about this topic: SMPTE Timecode
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“The history of the world is none other than the progress of the consciousness of freedom.”
—Georg Wilhelm Friedrich Hegel (1770–1831)