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At a time when most documents were typed, an error meant starting over--that is, until the invention of a product which could be "painted" onto a paper to erase the error so it could be corrected. It was called correction fluid.
It appears that the first correction fluid was developed in 1951 by Bette Nesmith Graham (mother of Mike Nesmith, guitarist for the Monkees). She called it Mistake Out and soon changed the name to Liquid Paper; eventually she sold her company to the Gillette Corporation.
Tipp-Ex was the first product developed by the Tipp-Ex Company, founded in 1959 in Germany, the first in a line of many kinds of correction fluids used for different purposes.
Wite-out and Liquid Paper are typical American brands of correction fluid; Tipp-Ex is generally sold and used in Europe.
The specific answer to your question, then would have to be Mistake Out, as it was developed before Tipp-Ex.
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