Polaroid Corporation a "juggernaut of innovation", in many respects Polaroid was the Apple of its time with a "leader in Edwin Land, a scientist who guided the company as the founding CEO for four decades". Polaroid’s initial market was in polarized sunglasses — spawned from Land’s self-guided research in light polarization. Land, having completed his freshman year at Harvard University, left to pursue this market, resulting in Polaroid's birth. Land later returned to Harvard to continue his research. Polaroid, owning patents to its polarizer technology, got its start by employing polarization in products that included 3-D movies and glare-reducing goggles for dogs.
Polaroid Corporation (including the "Polaroid" name itself and non-bankrupt foreign subsidiaries) had been sold to Bank One's One Equity Partners (OEP). OEP Imaging Corporation then changed its name to Polaroid Holding Company (PHC). However, this new company operates using the name of its bankrupt predecessor, Polaroid Corporation. Significant criticism surrounded this "takeover" because the process left executives of the company with large bonuses, while stockholders, as well as current and retired employees, were left with nothing. The company announced a plan that gave the top 45 executives bonuses just for staying at their jobs. Meanwhile, other employees were restricted from selling their