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The name 'LEGO' is an abbreviation of the two Danish words "leg godt", meaning "play well". It is the brand's name and their ideal. The LEGO Group was founded in 1932 by Ole Kirk Kristiansen. The company has passed from father to son and is now owned by Kjeld Kirk Kristiansen, a grandchild of the founder. It has come a long way over the past almost 80 years - from a small carpenter's workshop to a modern, global enterprise that is now, in terms of sales, the world's fourth-largest manufacturer of toys. The LEGO brick is the company's most important product. The products have undergone extensive development over the years - but the foundation remains the traditional LEGO brick.