Columbia originated the term "LP" itself, which was copyrighted. Thus, although many other firms could make long-playing records, only Columbia could make an LP. Link
Wednesday, June 21, 2006
Today In History: LPs Introduced
Today in 1948, the first successful long-playing microgroove phonograph records were introduced to the public at the Waldorf-Astoria Hotel in New York City. Made of nonbreakable Vinilyte plastic, and designed for the new speed of 33-1/3 r.p.m., the records were developed by Dr. Peter Goldmark of Columbia Records. The 12 inch record could play 23 minutes per side, as compared to only 4 minutes per side on the earlier 78 rpm record. The first LP featured violinist Yehudi Menuhin.