Established in 1871, Benz & Cie. was the most important of several companies founded by Karl Benz. DMG was founded by Gottlieb Daimler and his partner Wilhelm Maybach in 1890, but Daimler died in 1900 and Maybach left DMG in 1907, by which time the two companies were rivals. In 1924, owing to economic necessity after World War One, they entered into an "Agreement of Mutual Interest" (valid until the year 2000), however, this initial agreement still allowed each company to manufacture and sell their products under their original brand names. It was only after the 1926 official merger, that the brand Mercedes-Benz was created and used.