American inventor Walter Frederick Morrison sells the rights to his flying disc to the Wham-O toy company, which later renames it the "Frisbee".

Walter Frederick Morrison was an American inventor and entrepreneur, who invented the Frisbee.

A frisbee, also called a flying disc or simply a disc, is a gliding toy or sporting item generally made of injection-molded plastic and roughly 20 to 25 centimetres in diameter with a pronounced lip. It is used recreationally and competitively for throwing and catching, as in flying disc games. The shape of the disc is an airfoil in cross-section which allows it to fly by reducing the drag and increasing lift as it moves through the air, compared to a flat plate. Spinning the disc imparts a stabilizing gyroscopic force, allowing it to be both aimed with accuracy and thrown for distance.

Wham-O Inc. is an American toy company based in Carson, California, United States. It is known for creating and marketing many popular toys for nearly 70 years, including the Hula hoop, Frisbee, Slip 'N Slide, Super Ball, Trac-Ball, Silly String, Hacky Sack, Wham-O Bird Ornithopter, and Boogie Board, many of which have become genericized trademarks.