The concept of developing a flexible display was first put forth by Xerox PARC (Palo Alto Research Company). In 1974, Nicholas K. Sheridon, a PARC employee, made a major breakthrough in flexible display technology and produced the first flexible e-paper display. Dubbed Gyricon, this new display technology was designed to mimic the properties of paper, but married with the capacity to display dynamic digital images. Sheridon envisioned the advent of paperless offices and sought commercial applications for Gyricon.[1] In 2003 Gyricon LLC was formed as a direct subsidiary of Xerox to commercialize the electronic paper technology developed at Xerox PARC.[2] Gyricon LLC's operations were short lived and in December 2005 Xerox closed the subsidiary company in a move to focus on licensing the technology instead.