Polaroid Corporation in 2001, its brand and assets were sold off. The "new" Polaroid formed as a result, and itself declared bankruptcy in 2008, resulting in a further sale and in the present-day Polaroid Corporation. In May 2017, the brand and intellectual property of the Polaroid corporation were acquired by the largest shareholder of the Impossible Project, which had originally started out in 2008 by producing new instant films for Polaroid cameras. The Impossible Project was renamed Polaroid Originals in September 2017. The original Polaroid Corporation was founded in Cambridge, Massachusetts, by Edwin Land in 1937. Described by "The Boston Globe" as
Polaroid type 55 2008 announced it would cease production of all instant film, filing for bankruptcy protection a second time. In 2009 the business was sold, the new owners announcing instant film production would be licensed out to a smaller company. The chemicals needed to process Polaroid instant film had been stockpiled in case of this eventuality but the licensees announced their intention to redesign and manufacture film on a limited basis under the Polaroid brand that would be compatible with most Polaroid film cameras, using machinery left over from a liquidated factory in the Netherlands. In response, in November 2009, Polaroid announced