Corel Corporation (from the abbreviation "Cowpland Research Laboratory") is a software company headquartered in Ottawa, Ontario, specializing in graphics processing. It is known for producing software titles such as CorelDRAW, for having acquired Jasc Software, developers of Paint Shop Pro, in October 2004, and other major companies and products such as Ulead Systems and WordPerfect.
Corel was founded by Michael Cowpland in 1985, as a research laboratory. The company had great success early in the high-tech boom of the 1990s with the product CorelDRAW (being one of the three killer apps of OS/2), and became, for a time, the biggest software company in Canada. In 1996 it acquired Novell WordPerfect and started competing with the thought of being "Pepsi to Microsoft's Coke" as Microsoft Word was the top-used word processing software at the time. Corel's job was made significantly more difficult due to Microsoft's strategy to push pre-loaded copies of Word onto new computers.
In August 2000 Cowpland was accused of insider trading and left. A new board of directors was then appointed and Derek Burney Jr., announced that the product line would be split into several brands—DeepWhite, ProCreate, and Corel. However, these plans would be scrapped, and only the Corel brand would remain. Corel acquired the graphics software company Micrografx in late 2001.