The Tag Heuer company has its roots in 1860 when Edouard Heuer founded a watch making company in St-Imier, Switzerland, patenting his first chronograph in 1882. In 1887 Heuer patented an 'oscillating pinion' still used by major watchmakers for mechanical chronographs. Prestige, performance, avant-garde technology and absolute reliability: these four "watchwords" have characterized Tag Heuer philosophy since its founding in 1860, when Edouard Heuer set up the company's first workshop in St-Imier (Switzerland). Since that date, the firm's bold and innovative spirit, its dedication to the high-precision measurement of infinitesimal fragments of time and its quest for excellence in the design and fabrication of its products constitute the very soul of TAG Heuer. From its very first patent for a chronograph mechanism in 1882 to the introduction, in 2004, of a revolutionary new automatic movement (the Monaco V4), TAG Heuer continues to be at the forefront of some of the most spectacular innovations in watch making history. The Heuer Company was founded in 1860 by Edouard Heuer in St-Imier, a village in the Jura region of Switzerland. Heuer quickly established a niche in accurate time measurement, in particular the chronograph function. The focus on accurate time keeping resulted in a strong tradition of firsts in this field (see "interesting facts"). Heuer naturally established close relationships with sporting events where competitive time measurement was of importance. The following are a few events where Heuer has been officially involved; In 1999 TAG Heuer was bought by LVMH and is currently managed under the LVMH Watches and Jewelry division which includes other brands such as Zenith and Dior watches. In 2007 TAG Heuer won the product design award for its Monaco Calibre 360 LS Concept Chronograph. The award was given away by the International Forum Design Hannover GmbH, held in Hanover, Germany. The Tag Heuer Watches received the prestigious award in the Leisure/Lifestyle category. It was chosen among more than 2,200 timepieces presented by watchmakers from 35 countries. TAG Heuer received the product design award for the second time in two years. In 2006 another Tag Heuer Watches, entitled Professional Golf Watch, won in the same Leisure/Lifestyle category. The design of the Professional Golf Watch was developed with Tiger Woods.