Charles-August Paillard developed a non-oxidizing and antimagnetic balance and hairspring from a palladium-based alloy in 1877. He was one of the founders of the Geneva Non-Magnetic Watch Co., and owned 20 of the firm. Fitting into American cases, the Geneva Non-Magnetic Watch Co. sold Swiss-built, non-magnetic watches beginning in the 1880's. The watches were available in a variety of grades, and were often used for railroad service.
The Geneva Non-Magnetic Watch Co. did have full and exclusive rights to the use of Paillard's patented non-magnetic balance and hairspring, but did not have exclusive rights to the market, and other American companies began introducing non-magnetic watches in the late 1880's.
For the next thirty years, the Geneva N.M. Watch Co. went through a series of different owners and company names. However, the Paillard non-magnetic compensation balance and spring allowed for many improvements to be made in the field of horology, up until the introduction of the Guillaume balance.