Different  DVD recordable Formats

DVD-R/RW

This standard (pronounce as 'dash', not 'minus') was found by Pioneer, backed by NEC, Apple, Compaq and approved by DVD forum. Pioneer created this format to introduce true compatibility with set-top DVD players. They succeed as most of the standalone DVD players & drives are compatible with DVD-R out of the box than the other two formats in the market. The whole list of information can be found here. 

DVD+R/RW

Sony & Philips founded the DVD alliance and DVD+R/RW format was created with data storage & video recording in mind. Although the DVD+R/RW camp came in late in the game, they actually managed to surpass in term of recording speed, size and functionality. More information on the format can be found at their official website.

DVD-RAM

DVD forum was also behind the development of  DVD-RAM format. The format provides the market with a single universal recording technology for audio, video and data applications. It got the best recording features but it is not compatible with most DVD players and drives. The official website can be found here.