The HP Logo

In 1951 Hewlett and Packard started experimenting with shared ownership structures after they established the Palo Alto Engineering Company (PAECO).

Hewlett-Packard decided to form a wholly owned subsidiary to make components for their manufacturing divisions and picked the name DYNAC Inc, providing a number of HP employees with a higher equity stake. The first two letters of "DYNAC" looked like a lowercase 'hp' turned upside down. Although it later transpired that the name DYNAC was trademarked, the revised name of DYMEC was chosen in 1958 to preserve the essential letters 'dy' in the name.

By1966 HP entered the minicomputer market, which involved a bit of subterfuge, where they exploited their DYMEC subsidiary with its upside-down HP logo.