Kodak (formerly known as The Eastman Kodak Company and Eastman Kodak) is an American technology company that produces imaging products with its historic basis on photography. The company is headquartered in Rochester, New York and is incorporated in New Jersey. Kodak provides packaging, functional printing, graphic communications and professional services for businesses around the world. Its main business segments are Digital Printing & Enterprise and Graphics, Entertainment & Commercial Films. It is best known for photographic film products. Kodak was founded by George Eastman and Henry A. Strong on September 4, 1888. During most of the 20th century, Kodak held a dominant position in photographic film. The companys ubiquity was such that its "Kodak moment" tagline entered the common lexicon to describe a personal event that was demanded to be recorded for posterity. Kodak began to struggle financially in the late 1990s, as a result of the decline in sales of photographic film and its slowness in transitioning to digital photography. As a part of a turnaround strategy, Kodak began to focus on digital photography and digital printing, and attempted to generate revenues through aggressive patent litigation. In January 2012, Kodak filed for Chapter 11 bankruptcy protection in the United States District Court for the Southern District of New York. In February 2012, Kodak announced that it would stop making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market. In August 2012, Kodak announced its intention to sell its photographic film, commercial scanners and kiosk operations, as a measure to emerge from bankruptcy, but not its motion picture film operations. In January 2013, the Court approved financing for Kodak to emerge from bankruptcy by mid 2013. Kodak sold many of its patents for approximately $525,000,000 to a group of companies (including Apple, Google, Facebook, Amazon, Microsoft, Samsung, Adobe Systems and HTC) under the names Intellectual Ventures and RPX Corporation. On September 3, 2013, the company emerged from bankruptcy having shed its large legacy liabilities and exited several businesses. Personalized Imaging and Document Imaging are now part of Kodak Alaris, a separate company owned by the UK-based Kodak Pension Plan. On March 12, 2014, it announced that the board of directors elected Jeffrey J. Clarke as chief executive officer and a member of its board of directors.