1974: Ernő Rubik, a Hungarian sculptor and professor of architecture, invents a plastic cube in which 26 smaller cubes make up one large cube. In its original state, each face of the cube consists of nine squares of the same color. The goal of the puzzle is to return the cube to this original state.
Jan. 1975: Rubik applies for Hungarian patent HU170062 for what he calls the "Magic Cube."
1977: The patent for the Magic Cube is approved.
1977: Test runs of the cube are produced and sold in toy shops in Budapest, Hungary.
Sept. 1979: Rubik strikes a deal with Ideal Toys to market the Magic Cube internationally.
1980: The Magic Cube is shown at London, New York, Nuremburg, and Paris toy shows.
May 1980: After renaming it "Rubik's Cube," Ideal Toys produces its first batch for exportation.
1981: Patrick Bossert, a 12-year-old from Britain, publishes his Rubik's Cube solution in a book entitled You Can Do the Cube. The book goes to #1 on the New York Times bestseller list.
June 1982: The first Rubik's Cube world championship takes place in Budapest. Minh Thai, a 16-year-old Vietnamese high school student from Los Angeles, wins the championship by solving the cube in 22.95 seconds.
1984: Ideal Toys loses a patent infringement suit filed by Larry Nichols for patent US3655201.
1995: Diamond Cutters International produces the most expensive Rubik's Cube called the Masterpiece Cube. It is valued at 1.5 million dollars. It is set in 18-karat gold and consists of 22.5 karats of amethyst, 34 karats of rubies, and 34 karats of emeralds.